American Integrity Insurance Group (NYSE:AII) Releases Quarterly Earnings Results, Beats Estimates By $0.77 EPS

American Integrity Insurance Group (NYSE:AII) released its earnings results on Tuesday. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.77, FiscalAI reports. American Integrity Insurance Group had a return on equity of 26.74% and a net margin of 26.20%. The firm had revenue of $113.49 million for the quarter.

American Integrity Insurance Group Stock Performance

Shares of AII stock opened at $29.75 on Wednesday. The stock has a 50 day moving average price of $26.93 and a 200 day moving average price of $21.18. American Integrity Insurance Group has a 52-week low of $16.19 and a 52-week high of $30.00. The firm has a market capitalization of $582.70 million, a P/E ratio of 6.96 and a beta of -0.17.

Insider Buying and Selling

In other American Integrity Insurance Group news, CEO Robert Ritchie sold 69,727 shares of the stock in a transaction on Monday, October 12th. The stock was sold at an average price of $27.12, for a total value of $1,890,996.24. Following the sale, the chief executive officer owned 1,811,133 shares in the company, valued at $49,117,926.96. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 467,614 shares of company stock valued at $12,245,803. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of American Integrity Insurance Group

A number of large investors have recently made changes to their positions in AII. Russell Investments Group Ltd. increased its stake in American Integrity Insurance Group by 39.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 455,804 shares of the company’s stock worth $11,391,000 after buying an additional 128,920 shares during the period. R Squared Ltd lifted its holdings in American Integrity Insurance Group by 5.6% during the 3rd quarter. R Squared Ltd now owns 23,642 shares of the company’s stock valued at $591,000 after buying an additional 1,254 shares in the last quarter. Inspire Investing LLC bought a new stake in American Integrity Insurance Group during the 3rd quarter valued at about $2,322,000. GAMMA Investing LLC boosted its position in American Integrity Insurance Group by 9,544.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,736 shares of the company’s stock valued at $43,000 after buying an additional 1,718 shares during the period. Finally, Hsbc Holdings PLC boosted its position in American Integrity Insurance Group by 88.5% in the 2nd quarter. Hsbc Holdings PLC now owns 22,949 shares of the company’s stock valued at $439,000 after buying an additional 10,775 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AII shares. Citizens Jmp raised their price target on American Integrity Insurance Group from $26.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Monday, October 12th. Keefe, Bruyette & Woods boosted their price objective on shares of American Integrity Insurance Group from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, October 12th. Zacks Research raised shares of American Integrity Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Raymond James Financial reissued an “outperform” rating on shares of American Integrity Insurance Group in a research note on Tuesday, October 6th. Finally, 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 report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, American Integrity Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $28.25.

About American Integrity Insurance Group

American Integrity Insurance Group, Inc. is a property and casualty insurance holding company focused primarily on the Florida residential market. Its insurance products include coverage for homeowners, condominium unit owners, renters, manufactured homes and rental properties. The company was founded in 2006 and is headquartered in Tampa, Florida. It serves customers through independent insurance agents and operates through its insurance subsidiaries, including American Integrity Insurance Company of Florida.