| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 68 | 12.5x | 17.8x | Top tier | |
Growth | 87 | 48.5% | 7.1% | Top tier | |
Quality | 89 | — | — | Top tier | |
Safety | 61 | — | — | Around median | |
Capital Return | 20 | 0.00% | 2.12% | Bottom tier | |
Momentum | 84 | 6.0% | 2.9% | Top tier | |
Sentiment | 64 | 3 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Ategrity Specialty Holdings LLC is a specialty insurer operating in the excess and surplus lines E&S market, focusing on small and medium-sized businesses in the construction, hospitality, restaurant, retail, and residential real estate sectors, with expansion into wholesale trade and mixed-use real estate. The company generates income from insurance premiums, policy fees, and returns on its investment portfolio, and relies for growth on centralized risk selection and pricing, increased policy renewals, and the development of regional products targeting risks migrating from admitted insurers to the E&S market.
In the first quarter of fiscal year 2026, revenue was $129.0 million, net income was $25.5 million, and adjusted diluted earnings per share were $0.51, while adjusted net income was $25.6 million compared with $8.5 million in the corresponding period. Gross written premiums grew 23.1%, including 27% growth in casualty insurance and 13% in property insurance, while net written premiums increased 32% and net earned premiums rose 34%.
Underwriting profitability improved in the first quarter of fiscal year 2026, as underwriting income rose 87% to $13.3 million and the combined ratio declined to 87.4% from 90.9%. The loss ratio fell to 58.8% and the expense ratio to 28.6%, while net investment income was $12.0 million and realized and unrealized gains totaled $9.5 million, supported by the performance of the utilities and infrastructure portfolio.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average target of $28 and matching high and low targets of $28; this target is approximately 2.9% above the 52-week range high of $27.22, while the range extends down to $16.35. No published price-to-earnings ratio is available, so trailing twelve-month net income of $91.0 million and earnings per share of approximately $1.83 can be used as reference points, while noting that the displayed consensus is based on only one target and does not provide an independent range of estimates.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
Ategrity underwrites E&S insurance for small and medium-sized businesses in construction, hospitality, restaurants, retail, and residential real estate, with emerging categories such as wholesale trade and mixed-use real estate. Revenue comes from premiums, policy fees, and investment income, with policy fees reaching $2.2 million in the first quarter of fiscal year 2026 compared with $0.6 million in the corresponding period. Net investment income was $12.0 million, supported by a cash and investment portfolio valued at $1.15 billion.
Revenue was $129.0 million and net income was $25.5 million in the first quarter of fiscal year 2026, while adjusted net income was $25.6 million, or $0.51 per diluted share. Gross written premiums grew 23.1%, net written premiums increased 32%, and net earned premiums rose 34%. The combined ratio declined to 87.4% from 90.9%, and underwriting income increased 87% to $13.3 million.
Management expects direct written premium growth to exceed E&S market growth by approximately 20 percentage points in the second quarter of fiscal year 2026. The plan relies on regional strategies in Texas, Florida, and New England, as well as package products targeting small and medium-sized businesses in areas with less intense competition. Management also said on April 30, 2026 that property growth could accelerate slightly compared with the first quarter, while targeting a combined ratio in the 87% range.
Ategrity analyzes economic and legal trends and insurance submission flows at the city and neighborhood levels, then develops solutions for specific categories migrating from the admitted market to the E&S market. Examples include wholesale trade along the I-10 corridor in Texas, older mixed-use properties in Springfield, Massachusetts, and smaller markets such as Laredo, Waco, El Paso, and San Antonio. Development of the distribution network in New England began in September before the official launch, so the strategy contributed to business before the launch event was completed.
Pricing competition has increased in catastrophe-exposed property insurance and some large accounts, forcing Ategrity to reject business that did not meet its required pricing terms. Catastrophe losses represented 4.0% of net earned premiums in the first quarter of fiscal year 2026, compared with 6.2% in the corresponding period, demonstrating that results remain exposed to variations in catastrophe activity between periods. The company also increased its reinsurance retention ratio to the low-80% range, which supports net premiums but increases retained losses when claims occur.
The stock has a “Buy” consensus, with an average target of $28, which is also the highest and lowest available target. This target is approximately 2.9% above the 52-week range high of $27.22, while the low end of the range is $16.35. No published price-to-earnings ratio is available, so the target should be viewed alongside trailing twelve-month net income of $91.0 million and earnings per share of approximately $1.83, while noting that the matching high and low targets reflect the absence of a diverse range of analyst estimates.
