Ategrity Specialty (NYSE:ASIC) Given New $27.00 Price Target at JPMorgan Chase & Co.

Ategrity Specialty (NYSE:ASIC) had its target price upped by investment analysts at JPMorgan Chase & Co. from $25.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.24% from the company’s previous close.

Several other brokerages have also recently weighed in on ASIC. Weiss Ratings began coverage on Ategrity Specialty in a research report on Wednesday, January 14th. They issued a “sell (d)” rating for the company. Barclays lifted their price objective on Ategrity Specialty from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup restated a “buy” rating on shares of Ategrity Specialty in a report on Monday. Finally, Wells Fargo & Company upped their price target on shares of Ategrity Specialty from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.67.

Ategrity Specialty Stock Performance

NYSE:ASIC traded down $0.69 on Tuesday, hitting $22.27. The stock had a trading volume of 122,814 shares, compared to its average volume of 118,481. The firm has a market cap of $1.07 billion and a price-to-earnings ratio of 25.60. Ategrity Specialty has a 1 year low of $16.35 and a 1 year high of $25.30.

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

Hedge Funds Weigh In On Ategrity Specialty

Several large investors have recently made changes to their positions in the business. Barclays PLC grew its position in Ategrity Specialty by 120.0% in 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. Alyeska Investment Group L.P. boosted its stake in Ategrity Specialty by 19.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 71,903 shares of the company’s stock worth $1,511,000 after buying an additional 11,903 shares during the period. State Street Corp raised its stake in shares of Ategrity Specialty by 110.2% in the fourth quarter. State Street Corp now owns 92,891 shares of the company’s stock valued at $1,952,000 after acquiring an additional 48,690 shares during the period. Wells Fargo & Company MN boosted its stake 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 period. Finally, Jane Street Group LLC purchased a new position in shares of Ategrity Specialty during the fourth quarter valued at $798,000.

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.