Ategrity Specialty (NYSE:ASIC) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Ategrity Specialty (NYSE:ASIC – Get Free Report) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.00.

Several research analysts recently commented on the company. Weiss Ratings cut Ategrity Specialty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Barclays lowered their price target on Ategrity Specialty from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Citigroup upped their price objective on Ategrity Specialty from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. cut their price objective on Ategrity Specialty from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Finally, Wall Street Zen cut shares of Ategrity Specialty from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th.

Check Out Our Latest Stock Report on Ategrity Specialty

Institutional Trading of Ategrity Specialty

A number of large investors have recently added to or reduced their stakes in ASIC. State of Wyoming acquired a new stake in Ategrity Specialty in the 3rd quarter valued at about $1,503,000. State of Alaska Department of Revenue raised its stake in Ategrity Specialty by 52.6% in the third quarter. State of Alaska Department of Revenue now owns 5,589 shares of the company’s stock valued at $142,000 after buying an additional 1,926 shares during the period. ProCore Advisors LLC raised its stake in Ategrity Specialty by 3.3% in the third quarter. ProCore Advisors LLC now owns 16,954 shares of the company’s stock valued at $433,000 after buying an additional 548 shares during the period. Allworth Financial LP lifted its position in shares of Ategrity Specialty by 380,266.7% in the second quarter. Allworth Financial LP now owns 45,644 shares of the company’s stock valued at $1,097,000 after buying an additional 45,632 shares during the last quarter. Finally, Cannell Capital LLC acquired a new stake in shares of Ategrity Specialty in the second quarter valued at approximately $11,791,187.

Ategrity Specialty Price Performance

NYSE ASIC opened at $24.36 on Friday. Ategrity Specialty has a 12-month low of $16.73 and a 12-month high of $29.00. The company has a market capitalization of $1.17 billion, a PE ratio of 12.30 and a beta of -0.42. The firm’s 50 day moving average is $26.06 and its 200-day moving average is $22.61.

Ategrity Specialty (NYSE:ASIC – Get Free Report) last announced its earnings results on Wednesday, October 21st. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.21). The business had revenue of $125.59 million for the quarter. Ategrity Specialty had a return on equity of 15.39% and a net margin of 19.10%. As a group, sell-side analysts expect that Ategrity Specialty will post 2.03 EPS for the current year.

About Ategrity Specialty

(Get Free Report)

Ategrity Specialty Insurance Company Holdings, Ltd. is a specialty property and casualty insurer focused on the U.S. excess and surplus market. The company provides coverage for businesses whose risks may not fit standard insurance products. Ategrity distributes its insurance through wholesale brokers and offers products across specialty commercial lines, including property and casualty coverage. Its underwriting approach is designed to address the needs of businesses with more complex or specialized risks.

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Analyst Recommendations for Ategrity Specialty (NYSE:ASIC)

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