Mink Brook Asset Management LLC Invests $7.84 Million in American Integrity Insurance Group, Inc. $AII

Mink Brook Asset Management LLC acquired a new stake in shares of American Integrity Insurance Group, Inc. (NYSE:AII) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 426,540 shares of the company’s stock, valued at approximately $7,844,000. American Integrity Insurance Group accounts for approximately 6.8% of Mink Brook Asset Management LLC’s holdings, making the stock its 7th biggest holding.

A number of other hedge funds also recently bought and sold shares of AII. FNY Investment Advisers LLC bought a new stake in American Integrity Insurance Group during the 2nd quarter valued at $45,000. Raymond James Financial Inc. purchased a new stake in shares of American Integrity Insurance Group during the 2nd quarter worth $101,000. XTX Topco Ltd bought a new stake in American Integrity Insurance Group during the second quarter valued at about $192,000. Engineers Gate Manager LP purchased a new position in American Integrity Insurance Group in the second quarter valued at about $248,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of American Integrity Insurance Group during the second quarter valued at about $292,000.

Analyst Upgrades and Downgrades

AII has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of American Integrity Insurance Group from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Piper Sandler upped their price target on American Integrity Insurance Group from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Raymond James Financial restated an “outperform” rating and set a $24.00 target price (up from $22.00) on shares of American Integrity Insurance Group in a research note on Monday, September 22nd. Citizens Jmp increased their price target on American Integrity Insurance Group from $26.00 to $28.00 and gave the company a “market outperform” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of American Integrity Insurance Group in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.80.

Insiders Place Their Bets

In related news, CEO Robert C. Ritchie sold 475,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $19.00, for a total transaction of $9,025,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,454,500 shares in the company, valued at $46,635,500. The trade was a 16.21% 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 sold 2,353,200 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $19.00, for a total value of $44,710,800.00. Following the sale, the insider directly owned 4,768,861 shares in the company, valued at $90,608,359. This represents a 33.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,354,591 shares of company stock valued at $63,737,229.

American Integrity Insurance Group Price Performance

NYSE AII opened at $20.26 on Friday. The stock’s fifty day moving average price is $22.58 and its 200 day moving average price is $19.93. American Integrity Insurance Group, Inc. has a 1 year low of $15.77 and a 1 year high of $26.36. The company has a market cap of $396.53 million and a price-to-earnings ratio of 4.50.

American Integrity Insurance Group (NYSE:AII) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. American Integrity Insurance Group had a return on equity of 37.99% and a net margin of 31.63%.The business had revenue of $62.03 million for the quarter.

American Integrity Insurance Group Profile

We are a profitable and growing insurance group headquartered in Tampa, Florida. Through our insurance carrier subsidiary, American Integrity Insurance Company of Florida, Inc (“AIICFL”), we provide personal residential property insurance for single-family homeowners and condominium owners as well as coverage for vacant dwellings and investment properties, predominantly in Florida.