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ASI Stock Prices target Buy Rating by BGB Securities, asi insurance shares prices : BGB Securities reiterated their buy rating on shares of American Safety Insurance Holdings (NYSE: ASI) in a research note issued to investors on Friday. The firm currently has a $27.00 target price on the stock.


�ASI announced its expected exposure to 4Q12 CAT losses of between $6M and $7M after tax. The losses relate to Hurricane Sandy and due to the size and nature of the storm are impacting all three segments; E&S, ART, and Assumed Reinsurance. The top end of the CAT range equates to a loss of approximately $0.76 per share pre-tax and $0.68 after-tax.

 This equates to approximately 13.3% of additional loss ratio points. We now estimate the 4Q12 loss ratio to be 78.2% for the quarter. We maintain our BUY rating and our price target of $27. Our price target is approximately 0.75x our 2013E diluted BVPS of $36.24 with a 2013E ROAE of 6.3%. We believe the future P/B multiple for ASI will rise given the market�s anticipation of price strengthening and improving expense ratios.,� BGB Securities� analyst wrote.

Shares of American Safety Insurance Holdings opened at 18.92 on Friday. American Safety Insurance Holdings has a one year low of $15.75 and a one year high of $22.32. The stock�s 50-day moving average is currently $17.32. The company has a market cap of $186.9 million and a P/E ratio of 36.08.

Separately, analysts at FBR Capital initiated coverage on shares of American Safety Insurance Holdings in a research note to investors on Thursday, December 20th. They set an outperform rating and a $24.00 price target on the stock.