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

Zacks Research upgraded shares of American Integrity Insurance Group (NYSE:AII) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

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

American Integrity Insurance Group Price Performance

NYSE:AII opened at $25.19 on Monday. American Integrity Insurance Group has a one year low of $16.19 and a one year high of $26.36. The company has a fifty day moving average price of $19.34 and a 200 day moving average price of $18.81. The stock has a market cap of $493.47 million, a P/E ratio of 5.60 and a beta of -0.20.

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 company 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%. As a group, equities research analysts anticipate that American Integrity Insurance Group will post 3.32 EPS for the current year.

Insider Activity at American Integrity Insurance Group

In related news, major shareholder James E. Sowell purchased 79,497 shares of the stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $16.85 per share, for a total transaction of $1,339,524.45. Following the completion of the transaction, the insider directly owned 4,610,180 shares of the company’s stock, valued at approximately $77,681,533. The trade was a 1.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $1,182,500.00. Following the transaction, the chief executive officer owned 2,227,013 shares of the company’s stock, valued at $52,668,857.45. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 142,256 shares of company stock worth $2,400,973 and sold 206,984 shares worth $4,535,906. Corporate insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On American Integrity Insurance Group

A number of hedge funds have recently made changes to their positions in AII. FJ Capital Management LLC grew its stake in American Integrity Insurance Group by 1,261.6% during the fourth quarter. FJ Capital Management LLC now owns 153,491 shares of the company’s stock worth $3,197,000 after buying an additional 142,218 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of American Integrity Insurance Group by 38.6% in the first quarter. Wasatch Advisors LP now owns 1,192,192 shares of the company’s stock valued at $22,985,000 after acquiring an additional 331,766 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of American Integrity Insurance Group by 24.0% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 310,325 shares of the company’s stock worth $6,464,000 after acquiring an additional 60,072 shares in the last quarter. Lazard Asset Management LLC bought a new stake in American Integrity Insurance Group during the 1st quarter worth approximately $443,000. Finally, State of Wyoming acquired a new stake in American Integrity Insurance Group during the 1st quarter valued at $134,000.

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.