Donald Smith & CO. Inc. Acquires New Shares in American Integrity Insurance Group, Inc. $AII

Donald Smith & CO. Inc. acquired a new position in shares of American Integrity Insurance Group, Inc. (NYSE:AII) in the second quarter, HoldingsChannel.com reports. The firm acquired 116,420 shares of the company’s stock, valued at approximately $2,192,000.

Several other large investors have also recently added to or reduced their stakes in AII. NewEdge Advisors LLC bought a new stake in American Integrity Insurance Group in the fourth quarter valued at $33,000. New York State Common Retirement Fund bought a new position in shares of American Integrity Insurance Group during the fourth quarter worth about $42,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of American Integrity Insurance Group by 172.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 2,446 shares of the company’s stock worth $51,000 after acquiring an additional 1,549 shares during the period. JPMorgan Chase & Co. bought a new stake in American Integrity Insurance Group in the 3rd quarter valued at about $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in American Integrity Insurance Group in the 3rd quarter valued at about $83,000.

American Integrity Insurance Group Stock Down 1.1%

Shares of AII opened at $25.27 on Friday. The firm has a market capitalization of $495.04 million, a PE ratio of 5.62 and a beta of -0.20. The firm has a 50-day moving average price of $19.83 and a 200 day moving average price of $18.95. American Integrity Insurance Group, Inc. has a 52-week low of $16.19 and a 52-week high of $26.41.

American Integrity Insurance Group (NYSE:AII) last released its quarterly earnings results on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.97. The company had revenue of $115.17 million for the quarter. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. On average, equities analysts expect that American Integrity Insurance Group, Inc. will post 3.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on AII shares. Piper Sandler upped their target price on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Citigroup reaffirmed an “outperform” rating on shares of American Integrity Insurance Group in a report on Wednesday, August 12th. Wall Street Zen upgraded American Integrity Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Citizens Jmp increased their price objective on American Integrity Insurance Group from $25.00 to $26.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 12th. Finally, Raymond James Financial set a $27.00 target price on American Integrity Insurance Group in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, American Integrity Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Insider Buying and Selling

In other American Integrity Insurance Group news, CEO Robert C. Ritchie sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00. Following the completion of the sale, the chief executive officer directly owned 2,227,013 shares in the company, valued at $52,668,857.45. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder James E. Sowell purchased 79,497 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $16.85 per share, with a total value of $1,339,524.45. Following the completion of the purchase, the insider owned 4,610,180 shares in the company, valued at $77,681,533. This represents a 1.75% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 139,356 shares of company stock worth $2,351,702 and have sold 224,984 shares worth $4,991,426. 16.40% of the stock is owned by company insiders.

American Integrity Insurance Group Company Profile

American Integrity Insurance Group, Ltd. is a specialized provider of personal lines residential property insurance based in Jacksonville Beach, Florida. The company underwrites a variety of policies including homeowners multiple peril, condominium unitowners, dwelling fire, wind-only, personal umbrella and renters insurance. Its product suite is designed to protect against hurricane, windstorm, hail and other weather-related risks common to Florida’s coastal and inland regions.

Founded in 2004, American Integrity operates primarily through a network of independent insurance agents across the state of Florida.