American Integrity Insurance Group (NYSE:AII) Posts Earnings Results, Beats Expectations By $0.97 EPS

American Integrity Insurance Group (NYSE:AII) announced its quarterly earnings results on Tuesday. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.97, FiscalAI reports. The company had revenue of $115.17 million during the quarter. American Integrity Insurance Group had a return on equity of 27.56% and a net margin of 26.20%.

American Integrity Insurance Group Price Performance

Shares of AII stock traded up $0.25 during trading hours on Thursday, hitting $23.16. The stock had a trading volume of 14,783 shares, compared to its average volume of 126,257. The stock has a market capitalization of $453.67 million, a price-to-earnings ratio of 5.21 and a beta of -0.20. American Integrity Insurance Group has a one year low of $16.19 and a one year high of $26.36. The stock’s 50-day moving average price is $18.72 and its two-hundred day moving average price is $18.64.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday. Citizens Jmp raised their price objective on shares of American Integrity Insurance Group from $25.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday. Weiss Ratings raised shares of American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. Finally, Citigroup reiterated an “outperform” rating on shares of American Integrity Insurance Group in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, American Integrity Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.75.

Insider Buying and Selling

In other news, Director Steven E. Smathers purchased 2,900 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $16.99 per share, with a total value of $49,271.00. Following the purchase, the director owned 177,827 shares in the company, valued at approximately $3,021,280.73. This trade represents a 1.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert C. Ritchie sold 5,800 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $20.72, for a total value of $120,176.00. Following the completion of the sale, the chief executive officer owned 2,315,273 shares in the company, valued at approximately $47,972,456.56. The trade was a 0.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 142,256 shares of company stock valued at $2,400,973 and sold 118,724 shares valued at $2,470,366. Insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On American Integrity Insurance Group

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC acquired a new position in American Integrity Insurance Group during the 4th quarter valued at about $33,000. New York State Common Retirement Fund purchased a new position in shares of American Integrity Insurance Group in the 4th quarter valued at approximately $42,000. Police & Firemen s Retirement System of New Jersey grew its position in American Integrity Insurance Group by 172.7% during 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 purchasing an additional 1,549 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in American Integrity Insurance Group during the 3rd quarter valued at approximately $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of American Integrity Insurance Group during the third quarter worth $83,000.

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.