Ategrity Specialty price target lowered to $23 from $24 at Wells Fargo

Wells Fargo lowered the firm’s price target on Ategrity Specialty (ASIC) to $23 from $24 and keeps an Overweight rating on the shares. The firm notes the company reported adjusted net income of 46c, beating its 38c and Street’s 34c on realized / unrealized gains. Top-line premium growth was strong, while the loss ratio and combined ratio were both a bit above Wells.