Ategrity Specialty (NYSE:ASIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ategrity Specialty (NYSE:ASIC) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other research analysts have also recently issued reports on ASIC. Citigroup increased their price objective on Ategrity Specialty from $27.00 to $28.50 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings raised shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Zacks Research downgraded shares of Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. JPMorgan Chase & Co. boosted their price objective on shares of Ategrity Specialty from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Finally, Wells Fargo & Company upped their target price on shares of Ategrity Specialty from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.88.

Ategrity Specialty Stock Down 0.6%

Shares of NYSE:ASIC opened at $23.88 on Friday. The company has a market cap of $1.15 billion, a P/E ratio of 11.16 and a beta of -0.68. Ategrity Specialty has a 52 week low of $16.35 and a 52 week high of $26.00. The company has a 50-day moving average price of $22.50 and a 200 day moving average price of $20.70.

Ategrity Specialty (NYSE:ASIC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The company had revenue of $129.89 million for the quarter, compared to analyst estimates of $141.33 million. Ategrity Specialty had a return on equity of 17.52% and a net margin of 21.06%. Analysts expect that Ategrity Specialty will post 2.16 EPS for the current year.

Institutional Trading of Ategrity Specialty

Several large investors have recently modified their holdings of ASIC. New York State Common Retirement Fund acquired a new position in shares of Ategrity Specialty during the 4th quarter worth approximately $27,000. Strs Ohio grew its holdings in Ategrity Specialty by 54.5% during the 4th quarter. Strs Ohio now owns 1,700 shares of the company’s stock valued at $36,000 after buying an additional 600 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Ategrity Specialty during the fourth quarter worth $41,000. State of Wyoming increased its position in Ategrity Specialty by 1,663.6% during the fourth quarter. State of Wyoming now owns 2,469 shares of the company’s stock worth $52,000 after buying an additional 2,329 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Ategrity Specialty in the fourth quarter worth $76,000.

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.