Cannell Capital LLC acquired a new position in shares of Ategrity Specialty (NYSE:ASIC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 490,482 shares of the company's stock, valued at approximately $11,791,187. Ategrity Specialty makes up approximately 0.0% of Cannell Capital LLC's portfolio, making the stock its largest holding. Cannell Capital LLC owned about 1.02% of Ategrity Specialty as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of ASIC. BlackRock Inc. bought a new position in Ategrity Specialty during the second quarter valued at about $14,779,000. Millennium Management LLC boosted its stake in shares of Ategrity Specialty by 312.6% during the 4th quarter. Millennium Management LLC now owns 207,167 shares of the company's stock worth $4,353,000 after acquiring an additional 156,952 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Ategrity Specialty during the 1st quarter valued at about $2,605,000. Balyasny Asset Management L.P. increased its holdings 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 acquiring an additional 127,849 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Ategrity Specialty by 57.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 287,644 shares of the company's stock valued at $6,044,000 after acquiring an additional 105,254 shares in the last quarter.
Wall Street Analyst Weigh In
ASIC has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Ategrity Specialty from $27.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. Zacks Research lowered shares of Ategrity Specialty from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 19th. Wall Street Zen lowered Ategrity Specialty from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Wells Fargo & Company boosted their price objective on Ategrity Specialty from $26.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised Ategrity Specialty from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 14th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.88.
Read Our Latest Stock Report on ASIC
Ategrity Specialty Stock Performance
Shares of Ategrity Specialty stock opened at $26.68 on Friday. The firm has a market cap of $1.28 billion, a P/E ratio of 12.47 and a beta of -0.68. The firm's 50-day simple moving average is $24.36 and its 200-day simple moving average is $21.62. Ategrity Specialty has a twelve month low of $16.35 and a twelve month high of $27.22.
Ategrity Specialty (NYSE:ASIC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.05. The firm had revenue of $148.48 million during the quarter, compared to analysts' expectations of $141.33 million. Ategrity Specialty had a net margin of 21.06% and a return on equity of 17.12%. On average, equities analysts forecast that Ategrity Specialty will post 2.22 earnings per share for the current fiscal year.
Ategrity Specialty Profile
(
Free Report)
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.
See Also
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