Ategrity Specialty (NYSE:ASIC) Upgraded by Citigroup to Strong-Buy Rating

Citigroup upgraded shares of Ategrity Specialty (NYSE:ASIC) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Barclays lifted their price objective on shares of Ategrity Specialty from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Wells Fargo & Company boosted their price target on shares of Ategrity Specialty from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Ategrity Specialty from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings started coverage on shares of Ategrity Specialty in a research report on Wednesday, January 14th. They set a “sell (d)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.75.

Ategrity Specialty Stock Performance

NYSE ASIC traded down $1.06 during trading hours on Monday, hitting $22.72. The company’s stock had a trading volume of 23,839 shares, compared to its average volume of 121,084. The stock has a market cap of $1.09 billion and a price-to-earnings ratio of 16.46. Ategrity Specialty has a 52 week low of $16.35 and a 52 week high of $25.30.

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

Institutional Trading of Ategrity Specialty

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its holdings in shares of Ategrity Specialty by 312.6% in the 4th quarter. Millennium Management LLC now owns 207,167 shares of the company’s stock valued at $4,353,000 after acquiring an additional 156,952 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Ategrity Specialty by 298.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 170,734 shares of the company’s stock valued at $3,587,000 after buying an additional 127,849 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ategrity Specialty by 57.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 287,644 shares of the company’s stock worth $6,044,000 after acquiring an additional 105,254 shares during the last quarter. Walleye Capital LLC grew its position in Ategrity Specialty by 290.0% in the fourth quarter. Walleye Capital LLC now owns 94,214 shares of the company’s stock worth $1,979,000 after acquiring an additional 70,056 shares in the last quarter. Finally, Nuveen LLC grew its position in Ategrity Specialty by 9.6% during the fourth quarter. Nuveen LLC now owns 704,961 shares of the company’s stock valued at $14,811,000 after acquiring an additional 61,725 shares during the last quarter.

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.