Ategrity Specialty (NYSE:ASIC) Announces Earnings Results

Ategrity Specialty (NYSE:ASIC) released its earnings results on Thursday. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.35 by $0.16, FiscalAI reports. Ategrity Specialty had a net margin of 17.32% and a return on equity of 15.15%.

Here are the key takeaways from Ategrity Specialty’s conference call:

• Ategrity delivered a record quarter with gross written premiums up 30% YoY, net earned premiums +34%, adjusted net income of $25.4M, and a record 84.9% combined ratio.
• Underwriting discipline and scale drove operating leverage—submissions rose ~90% YoY, net written premiums increased 44%, and the expense ratio improved 6.1 points to 27.8%.
• Management says an AI roadmap (operationalized in back office) is being embedded into underwriting workflows in 2026 and is expected to lower expenses, but deployment remains phased and subject to testing and execution risk.
• The company announced a $50 million share repurchase program, which management cites as a use of excess capital after recent earnings and book value gains.
• Outlook calls for Q1 growth ~20 percentage points above the E&S market and a combined ratio just below 90%, with casualty targeted at 60–70% of mix (67% this quarter), which are forward-looking targets that depend on continued market conditions and execution.

Ategrity Specialty Stock Performance

ASIC opened at $17.47 on Friday. Ategrity Specialty has a 1-year low of $16.35 and a 1-year high of $25.30. The company has a market capitalization of $839.78 million and a P/E ratio of 20.08.

Institutional Trading of Ategrity Specialty

Several large investors have recently bought and sold shares of ASIC. Alyeska Investment Group L.P. grew its stake in Ategrity Specialty by 19.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 71,903 shares of the company’s stock valued at $1,511,000 after acquiring an additional 11,903 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Ategrity Specialty by 57.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 56,284 shares of the company’s stock valued at $1,183,000 after purchasing an additional 20,426 shares in the last quarter. Norges Bank acquired a new stake in shares of Ategrity Specialty in the fourth quarter valued at approximately $840,000. Jane Street Group LLC acquired a new stake in shares of Ategrity Specialty in the fourth quarter valued at approximately $798,000. Finally, Wells Fargo & Company MN raised its position in shares of Ategrity Specialty by 14.2% during the 4th quarter. Wells Fargo & Company MN now owns 27,029 shares of the company’s stock worth $568,000 after purchasing an additional 3,363 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ASIC. Wells Fargo & Company increased their price target on shares of Ategrity Specialty from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Barclays reiterated an “overweight” rating and set a $26.00 target price on shares of Ategrity Specialty in a research report on Friday. Finally, Weiss Ratings initiated coverage on Ategrity Specialty in a report on Wednesday, January 14th. They issued a “sell (d)” rating for the company. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.50.

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.