Ategrity Specialty (NYSE:ASIC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Ategrity Specialty (NYSE:ASIC) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $28.00.

A number of research firms recently weighed in on ASIC. Weiss Ratings raised shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. Barclays increased their price objective on shares of Ategrity Specialty from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen raised shares of Ategrity Specialty from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Wells Fargo & Company boosted their target price on shares of Ategrity Specialty from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Zacks Research cut shares of Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th.

Institutional Investors Weigh In On Ategrity Specialty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund purchased a new position in shares of Ategrity Specialty in the 4th quarter worth approximately $27,000. Strs Ohio raised 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 period. Police & Firemen s Retirement System of New Jersey bought a new stake in Ategrity Specialty in the fourth quarter worth $41,000. State of Wyoming lifted its position 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 buying an additional 2,329 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Ategrity Specialty during the fourth quarter worth $76,000.

Ategrity Specialty Stock Down 1.1%

NYSE:ASIC opened at $23.98 on Friday. The stock has a 50-day moving average price of $21.18. Ategrity Specialty has a 12 month low of $16.35 and a 12 month high of $25.84. The stock has a market capitalization of $1.15 billion and a P/E ratio of 12.90.

Ategrity Specialty (NYSE:ASIC) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.11. The business had revenue of $128.96 million for the quarter. Ategrity Specialty had a return on equity of 15.29% and a net margin of 19.75%. Equities research analysts predict that Ategrity Specialty will post 1.98 earnings per share for the current year.

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.