Ategrity Specialty (NYSE:ASIC – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $29.12.
Several research firms have recently weighed in on ASIC. Wall Street Zen lowered Ategrity Specialty from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. JPMorgan Chase & Co. boosted their target price on Ategrity Specialty from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Weiss Ratings lowered Ategrity Specialty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Barclays upped their target price on Ategrity Specialty from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company increased their price target on Ategrity Specialty from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 12th.
Get Our Latest Research Report on ASIC
Hedge Funds Weigh In On Ategrity Specialty
Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its position in Ategrity Specialty by 52.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,589 shares of the company’s stock worth $142,000 after acquiring an additional 1,926 shares during the last quarter. ProCore Advisors LLC grew its position in shares of 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 purchasing an additional 548 shares during the last quarter. Allworth Financial LP grew 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 purchasing an additional 45,632 shares during the last quarter. Cannell Capital LLC bought a new position in shares of Ategrity Specialty in the second quarter worth about $11,791,187. Finally, Bank of America Corp DE bought a new position in shares of Ategrity Specialty in the second quarter worth about $1,111,000.
Ategrity Specialty Trading Up 1.7%
Shares of NYSE ASIC opened at $27.32 on Tuesday. The stock has a 50 day simple moving average of $26.43 and a 200-day simple moving average of $23.31. The company has a market cap of $1.31 billion, a PE ratio of 12.77 and a beta of -0.55. Ategrity Specialty has a 12-month low of $16.73 and a 12-month high of $29.00.
Ategrity Specialty (NYSE:ASIC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Ategrity Specialty had a return on equity of 17.12% and a net margin of 21.06%. The company had revenue of $148.48 million for the quarter, compared to analyst estimates of $141.33 million. Sell-side analysts forecast that Ategrity Specialty will post 2.22 earnings per share for the current fiscal year.
About Ategrity Specialty
Ategrity Specialty is a specialty insurance company that focuses on excess and surplus (E&S) risks that may be difficult to place in the standard insurance market. The company provides underwriting capacity for businesses and exposures requiring customized coverage, specialized expertise, or higher limits.
Its offerings include specialty commercial insurance solutions across areas such as property, casualty, professional liability, and other complex or hard-to-place risks. Ategrity distributes its products primarily through wholesale brokers and other insurance intermediaries, working with brokers to assess individual risks and structure tailored policies.
The company serves the U.S.
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