Shares of Ategrity Specialty (NYSE:ASIC – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $28.8750.
A number of analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. Citigroup raised their target price on shares of Ategrity Specialty from $27.00 to $28.50 and gave the company a “neutral” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Ategrity Specialty from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Wall Street Zen raised shares of Ategrity Specialty from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research downgraded shares of Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th.
Read Our Latest Research Report on ASIC
Ategrity Specialty Stock 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. Ategrity Specialty had a return on equity of 17.52% and a net margin of 21.06%.The business had revenue of $129.89 million for the quarter, compared to analyst estimates of $141.33 million. On average, research analysts predict that Ategrity Specialty will post 2.16 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund acquired a new position in shares of Ategrity Specialty during the 4th quarter worth approximately $27,000. Strs Ohio increased its holdings in Ategrity Specialty by 54.5% during the fourth quarter. Strs Ohio now owns 1,700 shares of the company’s stock worth $36,000 after buying an additional 600 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Ategrity Specialty during the fourth quarter worth $41,000. State of Wyoming raised its position in Ategrity Specialty by 1,663.6% during the fourth quarter. State of Wyoming now owns 2,469 shares of the company’s stock worth $52,000 after acquiring an additional 2,329 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Ategrity Specialty in the fourth quarter valued at $76,000.
Ategrity Specialty Company Profile
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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