Shares of Ategrity Specialty (NYSE:ASIC – Get Free Report) traded down 3.8% on Wednesday . The company traded as low as $23.72 and last traded at $23.53. Approximately 2,661 shares changed hands during trading, a decline of 97% from the average daily volume of 93,843 shares. The stock had previously closed at $24.45.
Analysts Set New Price Targets
ASIC has been the subject of several analyst reports. Barclays increased their target price on shares of Ategrity Specialty from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company increased their price objective on shares of Ategrity Specialty from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Wall Street Zen raised Ategrity Specialty from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Zacks Research lowered Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.
View Our Latest Stock Report on Ategrity Specialty
Ategrity Specialty Trading Down 5.6%
Ategrity Specialty (NYSE:ASIC – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.40 by $0.11. The business had revenue of $128.96 million during the quarter. Ategrity Specialty had a net margin of 19.75% and a return on equity of 15.29%. As a group, equities analysts anticipate that Ategrity Specialty will post 1.98 EPS for the current fiscal year.
Institutional Trading of Ategrity Specialty
Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC increased its holdings in shares of Ategrity Specialty by 9.6% during the fourth quarter. Nuveen LLC now owns 704,961 shares of the company’s stock valued at $14,811,000 after acquiring an additional 61,725 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Ategrity Specialty by 57.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 287,644 shares of the company’s stock valued at $6,044,000 after purchasing an additional 105,254 shares in the last quarter. Millennium Management LLC raised its stake in Ategrity Specialty by 312.6% in the 4th quarter. Millennium Management LLC now owns 207,167 shares of the company’s stock worth $4,353,000 after acquiring an additional 156,952 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Ategrity Specialty by 298.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 170,734 shares of the company’s stock worth $3,587,000 after purchasing an additional 127,849 shares during the period. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Ategrity Specialty by 26.1% in the 4th quarter. State of Wisconsin Investment Board now owns 157,601 shares of the company’s stock valued at $3,311,000 after acquiring an additional 32,601 shares during 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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