50,185 Shares in American Integrity Insurance Group, Inc. $AII Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 50,185 shares of American Integrity Insurance Group in the second quarter, worth approximately $945,000 and representing a 0.26% stake.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $26.50 price target; ratings include one Strong Buy, five Buys and one Sell.
• AII reported quarterly earnings of $1.78 per share, beating estimates of $0.81, while CEO Robert Ritchie sold 9,174 shares and insiders sold 474,598 shares over the past 90 days.

Bank of New York Mellon Corp purchased a new stake in shares of American Integrity Insurance Group, Inc. (NYSE:AII - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,185 shares of the company's stock, valued at approximately $945,000. Bank of New York Mellon Corp owned 0.26% of American Integrity Insurance Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AII. State of Wyoming bought a new position in shares of American Integrity Insurance Group in the second quarter worth $214,000. Wasatch Advisors LP raised its holdings in American Integrity Insurance Group by 5.7% during the 2nd quarter. Wasatch Advisors LP now owns 1,260,169 shares of the company's stock worth $23,729,000 after buying an additional 67,977 shares during the period. NewEdge Advisors LLC lifted its position in shares of American Integrity Insurance Group by 156.2% in the 1st quarter. NewEdge Advisors LLC now owns 4,100 shares of the company's stock valued at $79,000 after acquiring an additional 2,500 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of American Integrity Insurance Group by 0.8% in the first quarter. Bank of America Corp DE now owns 293,443 shares of the company's stock valued at $5,658,000 after purchasing an additional 2,193 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in American Integrity Insurance Group in the 1st quarter worth about $443,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AII. Raymond James Financial set a $27.00 target price on shares of American Integrity Insurance Group in a research note on Thursday, August 20th. Weiss Ratings reissued a "sell (d)" rating on shares of American Integrity Insurance Group in a research report on Thursday, August 27th. Citizens Jmp boosted their price objective on American Integrity Insurance Group from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 12th. Citigroup reaffirmed an "outperform" rating on shares of American Integrity Insurance Group in a report on Wednesday, August 12th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $26.50.

Insider Activity

In other news, CEO Robert Ritchie sold 9,174 shares of the firm's stock in a transaction dated Monday, August 31st. The stock was 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 of the company's stock, valued at $48,833,202.24. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 474,598 shares of company stock valued at $11,513,818 in the last ninety days. 16.40% of the stock is owned by corporate insiders.

American Integrity Insurance Group Stock Down 2.1%

NYSE:AII opened at $25.37 on Friday. The firm has a market capitalization of $496.94 million, a P/E ratio of 5.64 and a beta of -0.08. American Integrity Insurance Group, Inc. has a 12-month low of $16.19 and a 12-month high of $27.00. The stock's fifty day simple moving average is $22.12 and its 200-day simple moving average is $19.74.

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

About American Integrity Insurance Group

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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