JPMorgan Chase & Co. Increases Ategrity Specialty (NYSE:ASIC) Price Target to $29.00

Ategrity Specialty (NYSE:ASIC) had its price target increased by analysts at JPMorgan Chase & Co. from $27.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 24.21% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Ategrity Specialty from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Zacks Research downgraded shares of Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Barclays upped their price target on shares of Ategrity Specialty from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company increased their price objective on shares of Ategrity Specialty from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.50.

Ategrity Specialty Trading Down 2.0%

ASIC opened at $23.35 on Monday. The firm has a 50 day simple moving average of $21.84. The firm has a market cap of $1.12 billion and a PE ratio of 12.55. Ategrity Specialty has a 12 month low of $16.35 and a 12 month high of $25.84.

Ategrity Specialty (NYSE:ASIC) last announced its quarterly earnings results 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. Ategrity Specialty had a return on equity of 15.29% and a net margin of 19.75%.The company had revenue of $128.96 million during the quarter. As a group, equities analysts predict that Ategrity Specialty will post 1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Strs Ohio raised its position 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 in the last quarter. New York State Common Retirement Fund bought a new position in shares of Ategrity Specialty during the 4th quarter valued at about $27,000. Bank of New York Mellon Corp grew its stake in shares of Ategrity Specialty by 12.9% in the 1st quarter. Bank of New York Mellon Corp now owns 15,780 shares of the company’s stock worth $312,000 after purchasing an additional 1,809 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Ategrity Specialty in the 4th quarter worth approximately $41,000. Finally, State of Wyoming raised its holdings in shares of Ategrity Specialty by 1,663.6% in the 4th quarter. State of Wyoming now owns 2,469 shares of the company’s stock worth $52,000 after purchasing an additional 2,329 shares in the last quarter.

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.