Ategrity Specialty (NYSE:ASIC) Given New $27.00 Price Target at Wells Fargo & Company

Ategrity Specialty (NYSE:ASIC) had its price objective upped by Wells Fargo & Company from $25.00 to $27.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also commented on ASIC. Weiss Ratings began coverage on Ategrity Specialty in a research note on Wednesday, January 14th. They set a “sell (d)” rating on the stock. Barclays raised their price target on Ategrity Specialty from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.50.

Ategrity Specialty Stock Up 23.5%

NYSE ASIC opened at $21.61 on Friday. The stock has a market capitalization of $1.04 billion and a price-to-earnings ratio of 24.84. Ategrity Specialty has a 12-month low of $16.35 and a 12-month high of $25.30.

Ategrity Specialty (NYSE:ASIC) last announced its earnings results on Thursday, February 19th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.35 by $0.16. Ategrity Specialty had a net margin of 17.44% and a return on equity of 14.17%. The company had revenue of $123.34 million for the quarter, compared to analysts’ expectations of $111.45 million.

Institutional Investors Weigh In On Ategrity Specialty

Large investors have recently modified their holdings of the business. New York State Common Retirement Fund acquired a new position in shares of Ategrity Specialty during the 4th quarter worth $27,000. Police & Firemen s Retirement System of New Jersey bought a new position in Ategrity Specialty in the fourth quarter valued at about $41,000. Trexquant Investment LP bought a new position in Ategrity Specialty in the fourth quarter valued at about $320,000. Barclays PLC raised its stake in Ategrity Specialty by 120.0% during the fourth quarter. Barclays PLC now owns 19,526 shares of the company’s stock worth $410,000 after acquiring an additional 10,649 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Ategrity Specialty by 14.2% in the fourth quarter. Wells Fargo & Company MN now owns 27,029 shares of the company’s stock worth $568,000 after acquiring an additional 3,363 shares during the last quarter.

More Ategrity Specialty News

Here are the key news stories impacting Ategrity Specialty this week:

• Positive Sentiment: Q4 results beat — ASIC reported $0.51 EPS vs. $0.35 consensus and revenue of $123.3M vs. $111.5M expected, with solid net margin and ROE metrics; the formal release and highlights provided detail the record quarter. BusinessWire Q4 Release
• Positive Sentiment: $50M share repurchase — The company launched a $50 million buyback, which reduces float and supports EPS; this is a clear capital-allocation positive that tends to lift shares. TipRanks Announcement
• Positive Sentiment: Strong near-term outlook — Management signaled Q1 growth roughly 20% above market and reiterated momentum after the record quarter, which supports revenue/earnings upside expectations. MSN Coverage
• Positive Sentiment: Analyst upgrade and higher target — Wells Fargo raised its price target to $27 and put an “overweight” rating on ASIC, signaling ~25% upside from recent levels and likely drawing more buy-side interest. Benzinga Report
• Neutral Sentiment: Call transcript & deeper detail — The earnings call transcript offers management color on underwriting performance and reserve development; useful for investors doing deeper due diligence but not new market-moving data beyond the results and buyback. Seeking Alpha Transcript

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.