American Integrity Insurance Group (NYSE:AII) Price Target Raised to $26.00

American Integrity Insurance Group (NYSE:AII) had its price objective hoisted by Citizens Jmp from $25.00 to $26.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research analysts have also recently weighed in on AII. Citigroup restated an “outperform” rating on shares of American Integrity Insurance Group in a report on Wednesday. Piper Sandler increased their price target on American Integrity Insurance Group from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, American Integrity Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $26.75.

American Integrity Insurance Group Trading Down 0.1%

NYSE:AII opened at $23.97 on Wednesday. The company’s 50-day moving average price is $19.01 and its 200-day moving average price is $18.72. The company has a market cap of $469.55 million, a P/E ratio of 5.33 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 posted its quarterly earnings results on Tuesday, August 11th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.97. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 27.56%. The firm had revenue of $115.17 million for the quarter. On average, analysts expect that American Integrity Insurance Group will post 2.73 earnings per share for the current year.

Insider Transactions at American Integrity Insurance Group

In other American Integrity Insurance Group news, CEO Robert C. Ritchie sold 50,000 shares of American Integrity Insurance Group stock in a transaction dated 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 transaction, the chief executive officer directly owned 2,227,013 shares of the company’s stock, valued at $52,668,857.45. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James E. Sowell bought 79,497 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $16.85 per share, for a total transaction of $1,339,524.45. Following the completion of the acquisition, the insider directly owned 4,610,180 shares in the company, valued at $77,681,533. The trade was a 1.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 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 insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AII. Franklin Resources Inc. increased its stake in American Integrity Insurance Group by 1,840.0% during the third quarter. Franklin Resources Inc. now owns 2,988,329 shares of the company’s stock worth $66,670,000 after acquiring an additional 2,834,289 shares during the last quarter. BlackRock Inc. purchased a new stake in American Integrity Insurance Group in the second quarter valued at $16,723,000. Wasatch Advisors LP acquired a new position in shares of American Integrity Insurance Group in the 2nd quarter valued at $16,073,000. Boston Partners lifted its stake in shares of American Integrity Insurance Group by 212.5% in the 3rd quarter. Boston Partners now owns 1,089,780 shares of the company’s stock valued at $24,316,000 after purchasing an additional 741,002 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of American Integrity Insurance Group during the 2nd quarter worth $10,409,000.

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.