491,272 Shares in American Integrity Insurance Group, Inc. $AII Bought by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners acquired 491,272 shares of American Integrity Insurance Group, worth approximately $9.25 million, representing a 2.51% stake.
• Analysts remain broadly optimistic, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $26.50; Zacks upgraded it to “Strong Buy.”
• American Integrity reported quarterly EPS of $1.78, beating estimates of $0.81, while shares opened at $26.26 near their 52-week high of $27.00.

Freestone Grove Partners LP acquired a new stake in American Integrity Insurance Group, Inc. (NYSE:AII - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 491,272 shares of the company's stock, valued at approximately $9,251,000. Freestone Grove Partners LP owned about 2.51% of American Integrity Insurance Group at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC bought a new position in American Integrity Insurance Group during the fourth quarter worth about $33,000. New York State Common Retirement Fund acquired a new position in shares of American Integrity Insurance Group during the 4th quarter worth about $42,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of American Integrity Insurance Group by 172.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 2,446 shares of the company's stock valued at $51,000 after acquiring an additional 1,549 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of American Integrity Insurance Group in the 3rd quarter valued at approximately $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of American Integrity Insurance Group in the 3rd quarter valued at approximately $83,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. 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. Citizens Jmp upped their target price on shares of American Integrity Insurance Group from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of American Integrity Insurance Group from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, June 1st. Raymond James Financial set a $27.00 price target on shares of American Integrity Insurance Group in a research report on Thursday, August 20th. Finally, Citigroup reissued an "outperform" rating on shares of American Integrity Insurance Group in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, American Integrity Insurance Group currently has an average rating of "Moderate Buy" and an average price target of $26.50.

American Integrity Insurance Group Stock Performance

Shares of AII opened at $26.26 on Friday. The stock has a 50 day simple moving average of $20.77 and a 200 day simple moving average of $19.22. American Integrity Insurance Group, Inc. has a 52-week low of $16.19 and a 52-week high of $27.00. The firm has a market capitalization of $514.43 million, a PE ratio of 5.84 and a beta of -0.20.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, topping 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 firm had revenue of $115.17 million for the quarter. Equities research analysts predict that American Integrity Insurance Group, Inc. will post 3.79 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robert C. Ritchie sold 10,000 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $26.35, for a total transaction of $263,500.00. Following the sale, the chief executive officer directly owned 1,899,171 shares in the company, valued at $50,043,155.85. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have acquired 136,356 shares of company stock worth $2,301,242 and have sold 459,424 shares worth $11,117,028. 16.40% of the stock is owned by corporate insiders.

American Integrity Insurance Group 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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