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

Key Points

• Wall Street Zen upgraded American Integrity Insurance Group to “buy” from “hold.” Other analysts have also raised price targets, giving the stock a consensus “Moderate Buy” rating and an average target of $26.75.
• The insurer reported quarterly EPS of $1.78, substantially above the $0.81 analyst consensus, on revenue of $115.17 million. It posted a 26.20% net margin and 27.56% return on equity.
• Insider activity was mixed: CEO Robert Ritchie sold 50,000 shares, while major shareholder James Sowell bought 79,497 shares. Institutional investors including Franklin Resources and BlackRock also hold significant positions.

American Integrity Insurance Group (NYSE:AII - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler increased their price objective on American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday. Citizens Jmp upped 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 note on Wednesday. Citigroup reaffirmed an "outperform" rating on shares of American Integrity Insurance Group in a report on Wednesday. Finally, 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. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.75.

American Integrity Insurance Group Stock Performance

NYSE:AII opened at $23.97 on Friday. American Integrity Insurance Group has a 52 week low of $16.19 and a 52 week high of $26.36. The firm has a 50-day moving average price of $19.01 and a two-hundred day moving average price of $18.72. The firm has a market cap of $469.55 million, a price-to-earnings ratio of 5.33 and a beta of -0.20.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.97. The firm had revenue of $115.17 million during the quarter. American Integrity Insurance Group had a return on equity of 27.56% and a net margin of 26.20%. As a group, sell-side analysts forecast that American Integrity Insurance Group will post 2.73 earnings per share for the current year.

Insider Activity

In other American Integrity Insurance Group news, CEO Robert C. Ritchie sold 50,000 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the completion of the sale, the chief executive officer directly owned 2,227,013 shares in the company, valued at $52,668,857.45. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder James E. Sowell acquired 79,497 shares of American Integrity Insurance Group stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $16.85 per share, for a total transaction of $1,339,524.45. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 142,256 shares of company stock valued at $2,400,973 and have sold 206,984 shares valued at $4,535,906. Insiders own 16.40% of the company's stock.

Institutional Investors Weigh In On American Integrity Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. increased its stake 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 valued at $66,670,000 after buying an additional 2,834,289 shares during the period. Wasatch Advisors LP boosted its holdings in American Integrity Insurance Group by 5.7% in the second quarter. Wasatch Advisors LP now owns 1,260,169 shares of the company's stock valued at $23,729,000 after acquiring an additional 67,977 shares in the last quarter. Boston Partners boosted its holdings in American Integrity Insurance Group by 9.3% in the fourth quarter. Boston Partners now owns 1,191,145 shares of the company's stock valued at $24,809,000 after acquiring an additional 101,365 shares in the last quarter. BlackRock Inc. purchased a new position in American Integrity Insurance Group during the 2nd quarter valued at $16,723,000. Finally, Mink Brook Asset Management LLC raised its holdings in American Integrity Insurance Group by 35.5% in the 4th quarter. Mink Brook Asset Management LLC now owns 648,405 shares of the company's stock worth $13,506,000 after purchasing an additional 169,932 shares in the last quarter.

American Integrity Insurance Group Company Profile

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.

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