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

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

A number of other brokerages have also issued reports on ASIC. Barclays boosted their target price on Ategrity Specialty from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup reaffirmed a “buy” rating on shares of Ategrity Specialty in a report on Monday. Weiss Ratings started coverage on Ategrity Specialty in a research report on Wednesday, January 14th. They issued a “sell (d)” rating on the stock. Finally, Wells Fargo & Company upped their price objective on Ategrity Specialty from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ategrity Specialty has an average rating of “Moderate Buy” and an average price target of $26.67.

Ategrity Specialty Trading Down 3.0%

NYSE:ASIC traded down $0.69 during trading hours on Tuesday, reaching $22.27. The company had a trading volume of 122,814 shares, compared to its average volume of 118,481. The company has a market capitalization of $1.07 billion and a PE 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 released its quarterly earnings results on Thursday, February 19th. The company reported $0.51 EPS for the quarter, beating 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 analyst estimates of $111.45 million.

Institutional Inflows and Outflows

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

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.