Zacks Research Upgrades American Integrity Insurance Group (NYSE:AII) to Strong-Buy

American Integrity Insurance Group (NYSE:AII) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on AII. Citigroup reaffirmed an “outperform” rating on shares of American Integrity Insurance Group in a research note on Wednesday, August 12th. Piper Sandler boosted their price objective on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Weiss Ratings raised shares of American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 1st. Wall Street Zen upgraded American Integrity Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citizens Jmp lifted their price target on American Integrity Insurance Group from $25.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

American Integrity Insurance Group Stock Performance

Shares of AII stock opened at $25.19 on Monday. American Integrity Insurance Group has a 52-week low of $16.19 and a 52-week high of $26.36. The stock has a market cap of $493.47 million, a PE ratio of 5.60 and a beta of -0.20. The firm’s 50 day moving average price is $19.34 and its two-hundred day moving average price is $18.81.

American Integrity Insurance Group (NYSE:AII) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.97. The company had revenue of $115.17 million during the quarter. American Integrity Insurance Group had a return on equity of 26.74% and a net margin of 26.20%. As a group, sell-side analysts predict that American Integrity Insurance Group will post 3.32 earnings per share for the current fiscal year.

Insider Activity at American Integrity Insurance Group

In other American Integrity Insurance Group news, major shareholder James E. Sowell bought 79,497 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $16.85 per share, with a total value of $1,339,524.45. Following the acquisition, the insider owned 4,610,180 shares of the company’s stock, valued at $77,681,533. The trade was a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert C. Ritchie sold 50,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the completion of the transaction, the chief executive officer owned 2,227,013 shares in the company, valued at approximately $52,668,857.45. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 142,256 shares of company stock worth $2,400,973 and sold 206,984 shares worth $4,535,906. 16.40% of the stock is owned by corporate insiders.

Institutional Trading of American Integrity Insurance Group

Several large investors have recently made changes to their positions in AII. NewEdge Advisors LLC bought a new stake in shares of American Integrity Insurance Group during the 4th quarter valued at approximately $33,000. New York State Common Retirement Fund acquired a new stake in American Integrity Insurance Group in the fourth quarter valued at approximately $42,000. Police & Firemen s Retirement System of New Jersey boosted its position in American Integrity Insurance Group by 172.7% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,446 shares of the company’s stock valued at $51,000 after buying an additional 1,549 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of American Integrity Insurance Group during the third quarter worth $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of American Integrity Insurance Group during the third quarter worth $83,000.

About American Integrity Insurance Group

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.