Ategrity Specialty (NYSE:ASIC – Get Free Report) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $26.50.
ASIC has been the subject of a number of analyst reports. Zacks Research raised shares of Ategrity Specialty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Wall Street Zen upgraded shares of Ategrity Specialty from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings lowered shares of Ategrity Specialty from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 3rd. Wells Fargo & Company lowered their target price on shares of Ategrity Specialty from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Citigroup downgraded shares of Ategrity Specialty from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research note on Thursday, February 26th.
Get Our Latest Stock Report on Ategrity Specialty
Ategrity Specialty Stock Up 0.3%
Ategrity Specialty (NYSE:ASIC – Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.11. Ategrity Specialty had a net margin of 19.75% and a return on equity of 15.29%. The firm had revenue of $128.96 million for the quarter. As a group, research analysts forecast that Ategrity Specialty will post 1.98 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Ategrity Specialty by 14.7% during the 1st quarter. Bank of America Corp DE now owns 101,630 shares of the company’s stock valued at $2,009,000 after purchasing an additional 12,988 shares during the period. Renaissance Technologies LLC grew its position in shares of Ategrity Specialty by 68.4% in the 1st quarter. Renaissance Technologies LLC now owns 41,600 shares of the company’s stock worth $822,000 after buying an additional 16,900 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Ategrity Specialty in the 1st quarter worth approximately $2,605,000. State of Wyoming grew its position in shares of Ategrity Specialty by 753.8% in the 1st quarter. State of Wyoming now owns 21,081 shares of the company’s stock worth $417,000 after buying an additional 18,612 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Ategrity Specialty by 12.9% in the 1st quarter. Bank of New York Mellon Corp now owns 15,780 shares of the company’s stock worth $312,000 after purchasing an additional 1,809 shares in the last quarter.
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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