Ategrity Specialty (NYSE:ASIC) Upgraded at Citigroup

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

Several other analysts also recently issued reports on ASIC. Weiss Ratings initiated coverage on shares of Ategrity Specialty in a research report on Wednesday, January 14th. They issued a “sell (d)” rating for the company. Barclays upped their target price on shares of Ategrity Specialty from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Wells Fargo & Company lifted their price target on shares of Ategrity Specialty from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ategrity Specialty from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.75.

Ategrity Specialty Stock Performance

ASIC traded down $1.22 on Monday, reaching $22.56. 34,027 shares of the company’s stock were exchanged, compared to its average volume of 121,338. Ategrity Specialty has a twelve month low of $16.35 and a twelve month high of $25.30. The company has a market cap of $1.08 billion and a PE ratio of 16.35.

Ategrity Specialty (NYSE:ASIC) last released its quarterly earnings data 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 net margin of 17.44% and a return on equity of 14.17%. The company had revenue of $123.34 million during the quarter, compared to the consensus estimate of $111.45 million.

Institutional Trading of Ategrity Specialty

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in shares of Ategrity Specialty in the 4th quarter valued at about $76,000. Strs Ohio lifted its holdings in Ategrity Specialty by 54.5% in the fourth quarter. Strs Ohio now owns 1,700 shares of the company’s stock worth $36,000 after acquiring an additional 600 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ategrity Specialty by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 153,259 shares of the company’s stock valued at $3,221,000 after acquiring an additional 4,866 shares during the period. Norges Bank bought a new position in shares of Ategrity Specialty during the fourth quarter valued at approximately $840,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Ategrity Specialty by 57.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 56,284 shares of the company’s stock worth $1,183,000 after purchasing an additional 20,426 shares during the period.

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.