Ategrity Specialty (NYSE:ASIC - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $27.22 and last traded at $26.59, with a volume of 75593 shares traded. The stock had previously closed at $26.90.
Analysts Set New Price Targets
Several analysts have commented on the stock. Barclays raised their target price on shares of Ategrity Specialty from $26.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. increased their price objective on shares of Ategrity Specialty from $27.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 20th. Wall Street Zen lowered shares of Ategrity Specialty from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research cut shares of Ategrity Specialty from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 19th. Finally, Weiss Ratings raised shares of Ategrity Specialty from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.88.
Read Our Latest Research Report on ASIC
Ategrity Specialty Stock Performance
The firm has a market cap of $1.27 billion, a P/E ratio of 12.43 and a beta of -0.68. The firm's fifty day moving average is $24.15 and its 200 day moving average is $21.53.
Ategrity Specialty (NYSE:ASIC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.05. The firm had revenue of $148.48 million during the quarter, compared to the consensus estimate of $141.33 million. Ategrity Specialty had a net margin of 21.06% and a return on equity of 17.12%. As a group, equities research analysts forecast that Ategrity Specialty will post 2.22 EPS for the current year.
Hedge Funds Weigh In On Ategrity Specialty
A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in Ategrity Specialty by 510.5% during the second quarter. California State Teachers Retirement System now owns 3,077 shares of the company's stock worth $74,000 after buying an additional 2,573 shares in the last quarter. Cannell Capital LLC acquired a new position in Ategrity Specialty in the second quarter valued at about $11,791,187,000. Bank of America Corp DE acquired a new position in Ategrity Specialty in the second quarter valued at about $1,111,000. Allworth Financial LP bought a new stake in Ategrity Specialty during the second quarter worth about $1,097,000. Finally, BlackRock Inc. acquired a new stake in Ategrity Specialty during the second quarter worth about $14,779,000.
Ategrity Specialty Company Profile
(
Get 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.
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