Ategrity Specialty (ASIC) – What Are Investment Firms Thinking About This Stock?

Ategrity Specialty (NYSE:ASIC) has earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $29.12.

Several equities research analysts have recently commented on ASIC shares. Wall Street Zen lowered Ategrity Specialty from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Wells Fargo & Company upped their price target on Ategrity Specialty from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. JPMorgan Chase & Co. raised their price objective on Ategrity Specialty from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Weiss Ratings cut Ategrity Specialty from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, Citigroup boosted their target price on Ategrity Specialty from $27.00 to $28.50 and gave the stock a “neutral” rating in a research report on Friday, July 31st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its position in Ategrity Specialty by 52.6% during the third 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. Deutsche Bank AG acquired a new stake in shares of Ategrity Specialty in the second quarter valued at approximately $218,000. Bank of New York Mellon Corp increased its stake in shares of Ategrity Specialty by 12.9% during 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. ProCore Advisors LLC increased its stake in shares of Ategrity Specialty by 3.3% during the 3rd quarter. ProCore Advisors LLC now owns 16,954 shares of the company’s stock worth $433,000 after purchasing an additional 548 shares in the last quarter. Finally, State of Wyoming raised its position in shares of Ategrity Specialty by 753.8% during the 1st quarter. State of Wyoming now owns 21,081 shares of the company’s stock worth $417,000 after purchasing an additional 18,612 shares during the last quarter.

Ategrity Specialty Stock Down 0.3%

Shares of ASIC opened at $27.17 on Tuesday. The company has a 50-day simple moving average of $26.47 and a 200-day simple moving average of $23.39. The company has a market capitalization of $1.30 billion, a PE ratio of 12.67 and a beta of -0.55. Ategrity Specialty has a 52-week low of $16.73 and a 52-week high of $29.00.

Ategrity Specialty (NYSE:ASIC) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. Ategrity Specialty had a net margin of 21.06% and a return on equity of 17.12%. The firm had revenue of $148.48 million for the quarter, compared to the consensus estimate of $141.33 million. On average, research analysts anticipate that Ategrity Specialty will post 2.22 EPS for the current 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.