American Integrity Insurance Group (NYSE:AII) Reaches New 12-Month High – Here’s Why

American Integrity Insurance Group, Inc. (NYSE:AII) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.00 and last traded at $26.64, with a volume of 275440 shares changing hands. The stock had previously closed at $26.34.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AII shares. Zacks Research raised shares of American Integrity Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Raymond James Financial set a $27.00 price target on American Integrity Insurance Group in a research report on Thursday, August 20th. Citigroup restated an “outperform” rating on shares of American Integrity Insurance Group in a research note on Wednesday, August 12th. Citizens Jmp lifted their price objective on American Integrity Insurance Group from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded 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 assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, American Integrity Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $26.50.

American Integrity Insurance Group Trading Down 0.1%

The firm has a market cap of $514.43 million, a price-to-earnings ratio of 5.84 and a beta of -0.20. The company’s 50-day moving average is $20.77 and its 200-day moving average is $19.22.

American Integrity Insurance Group (NYSE:AII) last announced 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 net margin of 26.20% and a return on equity of 26.74%. The business had revenue of $115.17 million during the quarter. Equities research analysts forecast that American Integrity Insurance Group, Inc. will post 3.79 EPS for the current year.

Insider Buying and Selling at American Integrity Insurance Group

In other American Integrity Insurance Group news, major shareholder James E. Sowell purchased 79,497 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $16.85 per share, with a total value of $1,339,524.45. Following the acquisition, the insider owned 4,610,180 shares of the company’s stock, valued at approximately $77,681,533. This represents a 1.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert C. Ritchie sold 65,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $26.29, for a total value of $1,708,850.00. Following the sale, the chief executive officer owned 1,963,536 shares of the company’s stock, valued at approximately $51,621,361.44. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 136,356 shares of company stock worth $2,301,242 and sold 459,424 shares worth $11,117,028. Company 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. NewEdge Advisors LLC bought a new stake in shares of American Integrity Insurance Group during the 4th quarter valued at approximately $33,000. New York State Common Retirement Fund bought a new position in American Integrity Insurance Group in the 4th quarter valued at approximately $42,000. Police & Firemen s Retirement System of New Jersey boosted its position in American Integrity Insurance Group by 172.7% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,446 shares of the company’s stock valued at $51,000 after buying an additional 1,549 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of American Integrity Insurance Group by 375.8% during the second quarter. California State Teachers Retirement System now owns 3,145 shares of the company’s stock worth $59,000 after buying an additional 2,484 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of American Integrity Insurance Group during the third quarter worth $72,000.

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.