Ategrity Specialty (NYSE:ASIC) Upgraded at Citigroup

Ategrity Specialty (NYSE:ASIC) was upgraded by stock analysts at Citigroup to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company increased their price target on shares of Ategrity Specialty from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Weiss Ratings assumed coverage on shares of Ategrity Specialty in a research note on Wednesday, January 14th. They issued a “sell (d)” rating for the company. JPMorgan Chase & Co. boosted their price target on Ategrity Specialty from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Barclays raised their price objective on Ategrity Specialty from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.75.

Ategrity Specialty Trading Up 7.1%

Shares of NYSE:ASIC opened at $23.78 on Monday. The stock has a market cap of $1.14 billion and a price-to-earnings ratio of 17.23. Ategrity Specialty has a one year low of $16.35 and a one year high of $25.30.

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

Institutional Investors Weigh In On Ategrity Specialty

A number of institutional investors have recently modified their holdings of ASIC. New York State Common Retirement Fund acquired a new position in shares of Ategrity Specialty in the fourth quarter valued at about $27,000. Strs Ohio grew its position in shares of Ategrity Specialty by 54.5% during the 4th quarter. Strs Ohio now owns 1,700 shares of the company’s stock worth $36,000 after purchasing an additional 600 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Ategrity Specialty during the fourth quarter worth approximately $41,000. State of Wyoming raised its position in shares of Ategrity Specialty by 1,663.6% in the fourth quarter. State of Wyoming now owns 2,469 shares of the company’s stock valued at $52,000 after buying an additional 2,329 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Ategrity Specialty in the fourth quarter valued at approximately $76,000.

Ategrity Specialty Company Profile

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.