Bank of America Corp DE Makes New Investment in American Integrity Insurance Group, Inc. $AII

Key Points

• Bank of America acquired 209,330 shares of American Integrity Insurance Group in the second quarter, worth approximately $3.94 million and representing a 1.07% stake.
• Analyst sentiment is generally positive, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $26.50; targets range from $26 to $27.
• American Integrity reported quarterly EPS of $1.78, significantly above the $0.81 consensus estimate, while CEO Robert Ritchie sold 65,000 shares for about $1.71 million.

Bank of America Corp DE acquired a new stake in American Integrity Insurance Group, Inc. (NYSE:AII - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 209,330 shares of the company's stock, valued at approximately $3,942,000. Bank of America Corp DE owned 1.07% of American Integrity Insurance Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NewEdge Advisors LLC raised its position in shares of 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 acquiring an additional 2,500 shares during the last quarter. State of Wyoming acquired a new stake in American Integrity Insurance Group during the 1st quarter valued at approximately $134,000. Deutsche Bank AG bought a new position in American Integrity Insurance Group during the 2nd quarter worth approximately $199,000. PDT Partners LLC bought a new position in American Integrity Insurance Group during the 2nd quarter worth approximately $216,000. Finally, Hsbc Holdings PLC acquired a new position in shares of American Integrity Insurance Group in the 1st quarter worth approximately $239,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AII shares. Raymond James Financial set a $27.00 target price on shares of American Integrity Insurance Group in a report on Thursday, August 20th. Piper Sandler increased their price target on American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Zacks Research raised American Integrity Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Weiss Ratings reissued a "sell (d)" rating on shares of American Integrity Insurance Group in a research note on Thursday, August 27th. Finally, Wall Street Zen upgraded American Integrity Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.50.

Insider Activity

In related news, CEO Robert Ritchie sold 65,000 shares of American Integrity Insurance Group stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $26.29, for a total value of $1,708,850.00. Following the completion of the sale, the chief executive officer owned 1,963,536 shares of the company's stock, valued at approximately $51,621,361.44. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 474,598 shares of company stock valued at $11,513,818. 16.40% of the stock is owned by company insiders.

American Integrity Insurance Group Trading Down 1.1%

Shares of NYSE AII opened at $24.91 on Tuesday. The firm has a market capitalization of $488.07 million, a P/E ratio of 5.54 and a beta of -0.08. The firm's 50-day moving average price is $23.79 and its 200-day moving average price is $20.26. American Integrity Insurance Group, Inc. has a 1-year low of $16.19 and a 1-year high of $27.00.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $0.81 by $0.97. The company had revenue of $115.17 million during the quarter. American Integrity Insurance Group had a return on equity of 26.74% and a net margin of 26.20%. Equities research analysts forecast that American Integrity Insurance Group, Inc. will post 3.82 EPS for the current year.

About American Integrity Insurance Group

American Integrity Insurance Group, Inc is a property and casualty insurance holding company that provides residential property insurance through its operating subsidiaries. The company focuses primarily on personal lines coverage for homeowners and other residential policyholders.

Its product offerings include homeowners insurance, condominium unit owners insurance, renters insurance, dwelling fire coverage and insurance for manufactured homes. These policies generally provide protection against covered property damage and related liabilities, subject to the terms, conditions and exclusions of each policy.

Founded in 2006, American Integrity serves customers in Florida, Georgia and South Carolina.

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