Ategrity Specialty (NYSE:ASIC – Get Free Report) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.
Several other brokerages have also recently weighed in on ASIC. Citigroup raised their price target on shares of Ategrity Specialty from $27.00 to $28.50 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Zacks Research cut shares of Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Wells Fargo & Company raised their target price on shares of Ategrity Specialty from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Barclays lifted their price target on shares of Ategrity Specialty from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ategrity Specialty currently has an average rating of “Moderate Buy” and an average target price of $28.88.
Read Our Latest Report on Ategrity Specialty
Ategrity Specialty Price Performance
Ategrity Specialty (NYSE:ASIC – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $148.48 million for the quarter, compared to analyst estimates of $141.33 million. Ategrity Specialty had a return on equity of 17.12% and a net margin of 21.06%. Equities analysts expect that Ategrity Specialty will post 2.16 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of ASIC. New York State Common Retirement Fund bought a new stake in shares of Ategrity Specialty during the 4th quarter worth approximately $27,000. Strs Ohio boosted its holdings in shares of Ategrity Specialty by 54.5% in the 4th quarter. Strs Ohio now owns 1,700 shares of the company’s stock valued at $36,000 after buying an additional 600 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Ategrity Specialty in the 4th quarter valued at approximately $41,000. State of Wyoming grew its stake in shares of Ategrity Specialty by 1,663.6% in the fourth quarter. State of Wyoming now owns 2,469 shares of the company’s stock valued at $52,000 after buying an additional 2,329 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Ategrity Specialty during the fourth quarter worth $76,000.
About Ategrity Specialty
We are a profitable and growing specialty insurance company dedicated to providing excess and surplus (“E&S”) products to small to medium-sized businesses (“SMBs”) across the United States. We have built a proprietary underwriting platform that combines sophisticated data analytics with automated and streamlined processes to efficiently serve our clients and deliver long-term value to our stockholders. The SMB market is characterized by large volumes of small-sized policies, and we believe our competitive edge lies in our ability to offer consistent, high-speed, and low-touch interactions that our distribution partners value.
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