American Integrity Insurance Group (NYSE:AII) Upgraded by Wall Street Zen to Buy Rating

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

Several other equities analysts have also issued reports on the company. 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. Citigroup reiterated an “outperform” rating on shares of American Integrity Insurance Group in a research report on Wednesday. Citizens Jmp lifted their price objective on shares of American Integrity Insurance Group from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Finally, 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 report on Thursday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.75.

American Integrity Insurance Group Stock Performance

Shares of American Integrity Insurance Group stock opened at $23.97 on Friday. The firm has a fifty day moving average of $19.01 and a two-hundred day moving average of $18.72. The stock has a market capitalization of $469.55 million, a price-to-earnings ratio of 5.33 and a beta of -0.20. American Integrity Insurance Group has a 52 week low of $16.19 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.97. The business had revenue of $115.17 million for the quarter. American Integrity Insurance Group had a return on equity of 27.56% and a net margin of 26.20%. As a group, research analysts forecast that American Integrity Insurance Group will post 3.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder James E. Sowell purchased 79,497 shares of American Integrity Insurance Group stock in a transaction dated Tuesday, June 9th. The stock was bought 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 of the company’s stock, valued at $77,681,533. This represents a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert C. Ritchie sold 50,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the sale, the chief executive officer directly owned 2,227,013 shares of the company’s stock, valued at $52,668,857.45. This represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have purchased 142,256 shares of company stock valued at $2,400,973 and have sold 206,984 shares valued at $4,535,906. 16.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American Integrity Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in shares of 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 buying an additional 2,834,289 shares during the period. BlackRock Inc. acquired a new stake in American Integrity Insurance Group in the 2nd quarter valued at approximately $16,723,000. Wasatch Advisors LP bought a new stake in American Integrity Insurance Group in the 2nd quarter valued at approximately $16,073,000. Boston Partners lifted its stake in 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 acquiring an additional 741,002 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in American Integrity Insurance Group during the 2nd quarter worth approximately $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.