Citizens Jmp Forecasts Strong Price Appreciation for American Integrity Insurance Group (NYSE:AII) Stock

Key Points

• Citizens Jmp raised its price target for American Integrity Insurance Group from $29 to $32 and maintained a “market outperform” rating, implying 6.88% upside. Analysts’ consensus rating is “Moderate Buy,” with a $29 average target.
• The insurer reported quarterly EPS of $1.44, beating the $0.67 consensus estimate by $0.77; revenue was $113.49 million.
• Shares opened at $29.94 after rising 6.4%. CEO Robert Ritchie sold 26,436 shares, while company insiders collectively sold 467,614 shares over the past 90 days.

American Integrity Insurance Group (NYSE:AII - Get Free Report) had its price target hoisted by analysts at Citizens Jmp from $29.00 to $32.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price target suggests a potential upside of 6.88% from the company's current price.

Several other equities analysts have also recently weighed in on the company. Piper Sandler raised their price objective on American Integrity Insurance Group from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of American Integrity Insurance Group in a research report on Thursday, August 27th. Raymond James Financial reiterated an "outperform" rating on shares of American Integrity Insurance Group in a report on Tuesday, October 6th. Citigroup restated an "outperform" rating on shares of American Integrity Insurance Group in a research note on Monday, October 12th. 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 assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

American Integrity Insurance Group Stock Up 6.4%

Shares of AII opened at $29.94 on Wednesday. The stock has a market capitalization of $586.52 million, a P/E ratio of 6.65 and a beta of -0.17. American Integrity Insurance Group has a twelve month low of $16.19 and a twelve month high of $32.21. The company has a 50 day moving average of $26.93 and a 200-day moving average of $21.18.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $0.67 by $0.77. The business had revenue of $113.49 million during the quarter. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. On average, sell-side analysts anticipate that American Integrity Insurance Group will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Robert Ritchie sold 26,436 shares of American Integrity Insurance Group stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $27.23, for a total value of $719,852.28. Following the completion of the transaction, the chief executive officer owned 1,733,997 shares of the company's stock, valued at $47,216,738.31. This trade represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 467,614 shares of company stock valued at $12,245,803 in the last ninety days. Company insiders own 16.40% of the company's stock.

Institutional Investors Weigh In On American Integrity Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of AII. GAMMA Investing LLC grew its holdings in American Integrity Insurance Group by 9,544.4% during the third quarter. GAMMA Investing LLC now owns 1,736 shares of the company's stock worth $43,000 after purchasing an additional 1,718 shares during the period. NewEdge Advisors LLC increased its position in American Integrity Insurance Group by 156.2% during the first quarter. NewEdge Advisors LLC now owns 4,100 shares of the company's stock worth $79,000 after buying an additional 2,500 shares during the last quarter. State of Wyoming acquired a new position in American Integrity Insurance Group during the first quarter worth approximately $134,000. Deutsche Bank AG acquired a new position in American Integrity Insurance Group during the second quarter worth approximately $199,000. Finally, PDT Partners LLC bought a new stake in American Integrity Insurance Group in the second quarter valued at approximately $216,000.

American Integrity Insurance Group Company Profile

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.

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