American Integrity Insurance Group (NYSE:AII) Stock Price Target Raised at Citizens Jmp

Key Points

• Citizens JMP raised American Integrity Insurance Group’s price target to $29 from $26 while maintaining a “market outperform” rating, implying 8.31% upside. Analysts collectively rate the stock “Moderate Buy,” with a consensus target of $28.25.
• American Integrity reported quarterly EPS of $1.78, beating estimates of $0.81 by $0.97, on revenue of $115.17 million. The company posted a 26.20% net margin and 26.74% return on equity.
• AII shares opened at $26.77, near their 52-week high of $27.40, while institutional investors—including BlackRock, Freestone Grove Partners and Donald Smith & Co.—established new positions. Insiders have sold 474,598 shares worth $11.5 million over the past quarter.

American Integrity Insurance Group (NYSE:AII - Get Free Report) had its target price boosted by equities researchers at Citizens Jmp from $26.00 to $29.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's target price points to a potential upside of 8.31% from the company's current price.

Several other analysts have also recently commented on the company. Raymond James Financial restated an "outperform" rating on shares of American Integrity Insurance Group in a research report on Tuesday, October 6th. Wall Street Zen raised American Integrity Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings reissued a "sell (d)" rating on shares of American Integrity Insurance Group in a research note on Thursday, August 27th. Zacks Research upgraded shares of American Integrity Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Finally, Piper Sandler boosted 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 assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.25.

American Integrity Insurance Group Price Performance

AII stock opened at $26.77 on Monday. The firm has a market cap of $524.66 million, a price-to-earnings ratio of 5.95 and a beta of 0.02. American Integrity Insurance Group has a 1-year low of $16.19 and a 1-year high of $27.40. The firm has a fifty day moving average price of $24.99 and a two-hundred day moving average price of $20.69.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.97. The firm 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, analysts expect that American Integrity Insurance Group will post 3.82 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert Ritchie sold 9,174 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $25.92, for a total transaction of $237,790.08. Following the sale, the chief executive officer owned 1,883,997 shares in the company, valued at $48,833,202.24. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 474,598 shares of company stock worth $11,513,818 in the last quarter. 16.40% of the stock is owned by insiders.

Hedge Funds Weigh In On American Integrity Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AII. The Manufacturers Life Insurance Company acquired a new position in American Integrity Insurance Group in the 2nd quarter worth about $908,000. BlackRock Inc. acquired a new position in shares of American Integrity Insurance Group during the 2nd quarter worth $16,723,000. Bank of New York Mellon Corp acquired a new position in shares of American Integrity Insurance Group during the 2nd quarter worth $945,000. Donald Smith & CO. Inc. acquired a new position in American Integrity Insurance Group during the second quarter worth $2,192,000. Finally, Freestone Grove Partners LP acquired a new position in American Integrity Insurance Group during the second quarter worth $9,251,000.

American Integrity Insurance Group Company Profile

American Integrity Insurance Group, Inc is an insurance company focused on residential property coverage in catastrophe-exposed markets. Through its insurance subsidiaries, the company primarily serves homeowners and other residential policyholders, with an emphasis on providing protection against risks such as wind, hurricanes and other property-related losses.

Its product offerings include homeowners insurance and related personal-lines products for owner-occupied residences, condominium unit owners, renters and other residential properties.

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