American Integrity Insurance Group (NYSE:AII) Reaches New 1-Year High – Here’s What Happened

American Integrity Insurance Group, Inc. (NYSE:AII) hit a new 52-week high on Friday . The company traded as high as $26.41 and last traded at $26.10, with a volume of 64098 shares trading hands. The stock had previously closed at $25.56.

Analyst Upgrades and Downgrades

Several research firms have commented on AII. Weiss Ratings upgraded American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. Piper Sandler raised their target price on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Citigroup restated an “outperform” rating on shares of American Integrity Insurance Group in a report on Wednesday, August 12th. Raymond James Financial set a $27.00 price target on shares of American Integrity Insurance Group in a research report on Thursday. Finally, Wall Street Zen raised American Integrity Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, American Integrity Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $26.50.

American Integrity Insurance Group Trading Down 1.1%

The business’s 50-day moving average is $19.83 and its two-hundred day moving average is $18.95. The stock has a market capitalization of $495.04 million, a PE ratio of 5.62 and a beta of -0.20.

American Integrity Insurance Group (NYSE:AII) last released its quarterly earnings data on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $0.81 by $0.97. American Integrity Insurance Group had a return on equity of 26.74% and a net margin of 26.20%.The company had revenue of $115.17 million for the quarter. On average, analysts predict that American Integrity Insurance Group, Inc. will post 3.79 EPS for the current year.

Insider Activity

In other American Integrity Insurance Group news, CEO Robert C. Ritchie sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $25.24, for a total value of $151,440.00. Following the completion of the sale, the chief executive officer owned 2,133,611 shares of the company’s stock, valued at $53,852,341.64. This trade represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James E. Sowell acquired 79,497 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average price of $16.85 per share, for a total transaction of $1,339,524.45. Following the purchase, the insider directly owned 4,610,180 shares of the company’s stock, valued at approximately $77,681,533. This trade represents 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 quarter, insiders have purchased 139,356 shares of company stock worth $2,351,702 and have sold 224,984 shares worth $4,991,426. Company insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On American Integrity Insurance Group

Large investors have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey lifted its holdings in American Integrity Insurance Group by 172.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 2,446 shares of the company’s stock worth $51,000 after buying an additional 1,549 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of American Integrity Insurance Group during the fourth quarter valued at about $33,000. New York State Common Retirement Fund purchased a new stake in shares of American Integrity Insurance Group during the fourth quarter worth about $42,000. Bank of America Corp DE increased its position in shares of American Integrity Insurance Group by 0.8% during the first quarter. Bank of America Corp DE now owns 293,443 shares of the company’s stock worth $5,658,000 after acquiring an additional 2,193 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of American Integrity Insurance Group by 64.5% in the fourth quarter. Osaic Holdings Inc. now owns 6,580 shares of the company’s stock worth $137,000 after acquiring an additional 2,580 shares in the last quarter.

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.