Ategrity Specialty (NYSE:ASIC) Given New $27.00 Price Target at JPMorgan Chase & Co.

Ategrity Specialty (NYSE:ASIC) had its target price raised by JPMorgan Chase & Co. from $25.00 to $27.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on ASIC. Wells Fargo & Company lifted their price objective 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. Barclays increased their price target on shares of Ategrity Specialty from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday. Citigroup reissued a “buy” rating on shares of Ategrity Specialty in a research note on Monday. Finally, Weiss Ratings began coverage on Ategrity Specialty in a research report on Wednesday, January 14th. They set a “sell (d)” rating on the stock. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ategrity Specialty has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

Ategrity Specialty Price Performance

NYSE ASIC opened at $22.30 on Tuesday. Ategrity Specialty has a 1-year low of $16.35 and a 1-year high of $25.30. The company has a market cap of $1.07 billion and a price-to-earnings ratio of 16.16.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Trexquant Investment LP purchased a new stake in shares of Ategrity Specialty in the fourth quarter worth approximately $320,000. Barclays PLC boosted its holdings in Ategrity Specialty by 120.0% during the 4th quarter. Barclays PLC now owns 19,526 shares of the company’s stock valued at $410,000 after acquiring an additional 10,649 shares during the period. Wells Fargo & Company MN grew its position in Ategrity Specialty by 14.2% in the 4th quarter. Wells Fargo & Company MN now owns 27,029 shares of the company’s stock valued at $568,000 after acquiring an additional 3,363 shares during the last quarter. Jane Street Group LLC purchased a new stake in Ategrity Specialty in the fourth quarter worth $798,000. Finally, Norges Bank bought a new stake in shares of Ategrity Specialty during the fourth quarter worth $840,000.

About Ategrity Specialty

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.