Wells Fargo & Company Increases Ategrity Specialty (NYSE:ASIC) Price Target to $27.00

Ategrity Specialty (NYSE:ASIC) had its price target lifted by Wells Fargo & Company from $25.00 to $27.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 24.94% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Weiss Ratings initiated coverage on Ategrity Specialty in a research note on Wednesday, January 14th. They set a “sell (d)” rating on the stock. Barclays lifted their target price on Ategrity Specialty from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ategrity Specialty currently has an average rating of “Hold” and a consensus price target of $26.50.

Ategrity Specialty Stock Performance

Shares of ASIC opened at $21.61 on Friday. The stock has a market capitalization of $1.04 billion and a PE ratio of 24.84. Ategrity Specialty has a fifty-two week low of $16.35 and a fifty-two week high of $25.30.

Ategrity Specialty (NYSE:ASIC) last announced its quarterly 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. The business had revenue of $123.34 million for the quarter, compared to analyst estimates of $111.45 million. Ategrity Specialty had a net margin of 17.44% and a return on equity of 14.17%.

Hedge Funds Weigh In On Ategrity Specialty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio raised its stake in Ategrity Specialty by 54.5% in the fourth quarter. Strs Ohio now owns 1,700 shares of the company’s stock valued at $36,000 after purchasing an additional 600 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Ategrity Specialty in the 4th quarter valued at approximately $27,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Ategrity Specialty during the 4th quarter worth approximately $41,000. State of Wyoming boosted its position in shares of Ategrity Specialty by 1,663.6% during the 4th quarter. State of Wyoming now owns 2,469 shares of the company’s stock worth $52,000 after acquiring an additional 2,329 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Ategrity Specialty by 14.2% in the fourth 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.

Trending Headlines about Ategrity Specialty

Here are the key news stories impacting Ategrity Specialty this week:

• Positive Sentiment: Q4 results beat — ASIC reported $0.51 EPS vs. $0.35 consensus and revenue of $123.3M vs. $111.5M expected, with solid net margin and ROE metrics; the formal release and highlights provided detail the record quarter. BusinessWire Q4 Release
• Positive Sentiment: $50M share repurchase — The company launched a $50 million buyback, which reduces float and supports EPS; this is a clear capital-allocation positive that tends to lift shares. TipRanks Announcement
• Positive Sentiment: Strong near-term outlook — Management signaled Q1 growth roughly 20% above market and reiterated momentum after the record quarter, which supports revenue/earnings upside expectations. MSN Coverage
• Positive Sentiment: Analyst upgrade and higher target — Wells Fargo raised its price target to $27 and put an “overweight” rating on ASIC, signaling ~25% upside from recent levels and likely drawing more buy-side interest. Benzinga Report
• Neutral Sentiment: Call transcript & deeper detail — The earnings call transcript offers management color on underwriting performance and reserve development; useful for investors doing deeper due diligence but not new market-moving data beyond the results and buyback. Seeking Alpha Transcript

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.