Ategrity Specialty (NYSE:ASIC) Stock Gets Price Target Reduction from Wells Fargo & Company

Ategrity Specialty (NYSE:ASIC) had its target price reduced by Wells Fargo & Company from $31.00 to $29.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on ASIC. Wall Street Zen lowered shares of Ategrity Specialty from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Citigroup lifted their price objective on shares of Ategrity Specialty from $28.50 to $29.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays lowered their price objective on shares of Ategrity Specialty from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings downgraded Ategrity Specialty from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on Ategrity Specialty from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ategrity Specialty has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Ategrity Specialty Price Performance

ASIC stock opened at $24.16 on Thursday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 12.20 and a beta of -0.55. Ategrity Specialty has a fifty-two week low of $16.73 and a fifty-two week high of $29.00. The business has a 50-day moving average of $26.55 and a 200-day moving average of $23.53.

Ategrity Specialty (NYSE:ASIC) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). Ategrity Specialty had a return on equity of 15.51% and a net margin of 19.10%. The company had revenue of $125.59 million for the quarter. Equities analysts expect that Ategrity Specialty will post 2.22 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASIC. State of Alaska Department of Revenue increased its holdings in Ategrity Specialty by 52.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,589 shares of the company’s stock worth $142,000 after purchasing an additional 1,926 shares in the last quarter. Deutsche Bank AG bought a new stake in Ategrity Specialty during the 2nd quarter worth approximately $218,000. Bank of New York Mellon Corp grew its holdings in 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 acquiring an additional 1,809 shares during the last quarter. State of Wyoming increased its position in Ategrity Specialty by 753.8% in the 1st quarter. State of Wyoming now owns 21,081 shares of the company’s stock valued at $417,000 after acquiring an additional 18,612 shares during the period. Finally, ProCore Advisors LLC increased its position in Ategrity Specialty by 3.3% in the 3rd quarter. ProCore Advisors LLC now owns 16,954 shares of the company’s stock valued at $433,000 after acquiring an additional 548 shares during the period.

Ategrity Specialty News Summary

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

• Positive Sentiment: Management outlined a target for a fourth-quarter combined ratio below 87% and premium growth 15–20 percentage points above the broader excess-and-surplus insurance market, supporting the company’s long-term growth case. Ategrity outlines Q4 combined ratio and premium growth targets
• Positive Sentiment: Analyst support remains a potential tailwind: Wells Fargo maintained an “overweight” rating while lowering its price target from $31 to $29, implying meaningful upside from recent levels. Wells Fargo lowers Ategrity price target
• Neutral Sentiment: Analyst commentary is mixed, indicating that investors are weighing Ategrity’s strong specialty-insurance underwriting against weaker reported earnings. Analysts offer insights on Ategrity Specialty
• Neutral Sentiment: Ategrity disclosed a $604,794 separation package for CFO Neelam Patel alongside its third-quarter results. The cost and leadership transition may receive investor attention, though the longer-term impact is uncertain. Ategrity CFO separation package
• Negative Sentiment: Third-quarter adjusted earnings were $0.29 per share, well below the $0.50 consensus estimate and down from $0.46 a year earlier. Revenue was $125.6 million, making the earnings shortfall the primary reason the stock has decreased despite management describing underwriting performance as strong. Ategrity third-quarter earnings miss

Ategrity Specialty Company Profile

Ategrity Specialty is a specialty property and casualty insurance company focused on the excess and surplus (E&S) insurance market. The company provides coverage for risks that may be difficult to place in the standard insurance market because of their size, complexity, unusual characteristics or limited loss history.

Its business is centered on underwriting specialty commercial insurance products, including coverage for property and liability exposures. Ategrity Specialty works with insurance brokers and other distribution partners to develop tailored solutions for businesses with specialized insurance needs.

The company primarily serves the U.S.