State of Wyoming Makes New $1.50 Million Investment in Ategrity Specialty $ASIC

State of Wyoming purchased a new position in Ategrity Specialty (NYSE:ASIC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 58,841 shares of the company’s stock, valued at approximately $1,503,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Ategrity Specialty during the second quarter worth about $14,779,000. Cannell Capital LLC acquired a new position in Ategrity Specialty in the second quarter valued at approximately $11,791,187. Arrowstreet Capital Limited Partnership acquired a new position in Ategrity Specialty in the first quarter valued at approximately $2,605,000. Bank of America Corp DE boosted its stake in Ategrity Specialty by 14.7% in the first quarter. Bank of America Corp DE now owns 101,630 shares of the company’s stock valued at $2,009,000 after acquiring an additional 12,988 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its holdings in shares of Ategrity Specialty by 8.5% during the first quarter. Kornitzer Capital Management Inc. KS now owns 54,482 shares of the company’s stock valued at $1,077,000 after purchasing an additional 4,269 shares during the last quarter.

Ategrity Specialty Trading Down 2.5%

NYSE ASIC opened at $23.79 on Friday. Ategrity Specialty has a 52 week low of $16.73 and a 52 week high of $29.00. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 12.02 and a beta of -0.55. The company has a 50-day moving average price of $26.40 and a two-hundred day moving average price of $22.41.

Ategrity Specialty (NYSE:ASIC) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.21). The firm had revenue of $125.59 million during the quarter. Ategrity Specialty had a net margin of 19.10% and a return on equity of 15.51%. As a group, equities research analysts expect that Ategrity Specialty will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ASIC has been the topic of a number of research reports. Barclays dropped their price target on Ategrity Specialty from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Citigroup boosted their price objective on Ategrity Specialty from $28.50 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Wells Fargo & Company lowered their price objective on Ategrity Specialty from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Weiss Ratings lowered Ategrity Specialty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on Ategrity Specialty from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

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.