American Integrity Insurance Group (NYSE:AII) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American Integrity Insurance Group (NYSE:AII) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other research analysts also recently weighed in on the company. Citigroup restated an “outperform” rating on shares of American Integrity Insurance Group in a research note on Wednesday, August 12th. Citizens Jmp lifted 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 report on Wednesday, August 12th. 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, 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. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.75.

American Integrity Insurance Group Stock Up 4.2%

AII stock opened at $25.00 on Friday. The business’s 50-day moving average price is $19.17 and its 200-day moving average price is $18.77. The stock has a market cap of $489.75 million, a P/E ratio of 5.56 and a beta of -0.20. American Integrity Insurance Group has a twelve month low of $16.19 and a twelve month high of $26.36.

American Integrity Insurance Group (NYSE:AII) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $0.81 by $0.97. The firm 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 research analysts expect that American Integrity Insurance Group will post 3.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert C. Ritchie sold 50,000 shares of the firm’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 of the company’s stock, valued at $52,668,857.45. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James E. Sowell bought 79,497 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $16.85 per share, for a total transaction of $1,339,524.45. Following the transaction, the insider owned 4,610,180 shares in the company, valued at approximately $77,681,533. The trade was a 1.75% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 142,256 shares of company stock worth $2,400,973 and have sold 206,984 shares worth $4,535,906. 16.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AII. Geode Capital Management LLC purchased a new stake in shares of American Integrity Insurance Group in the second quarter valued at $1,382,000. XTX Topco Ltd bought a new stake in American Integrity Insurance Group in the second quarter worth about $192,000. Marshall Wace LLP bought a new stake in American Integrity Insurance Group in the second quarter worth about $2,123,000. Qube Research & Technologies Ltd purchased a new position in shares of American Integrity Insurance Group during the second quarter valued at approximately $292,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of American Integrity Insurance Group during the second quarter valued at approximately $7,356,000.

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.