Renaissance Technologies LLC Trims Position in American Integrity Insurance Group, Inc. $AII

Key Points

• Renaissance Technologies cut its American Integrity Insurance Group stake by 26.2% in the first quarter, selling 48,600 shares and retaining 136,800 shares worth approximately $2.64 million.
• Analyst sentiment remains broadly positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $25.75.
• American Integrity exceeded quarterly earnings expectations, reporting $1.03 EPS versus the $0.94 consensus estimate, while insiders have been net buyers over the past three months despite a recent CEO stock sale.

Renaissance Technologies LLC decreased its holdings in shares of American Integrity Insurance Group, Inc. (NYSE:AII - Free Report) by 26.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 136,800 shares of the company's stock after selling 48,600 shares during the period. Renaissance Technologies LLC owned approximately 0.70% of American Integrity Insurance Group worth $2,638,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AII shares. Weiss Ratings raised American Integrity Insurance Group from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, June 1st. Citizens Jmp dropped their price objective on shares of American Integrity Insurance Group from $28.00 to $25.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 13th. Citigroup restated an "outperform" rating on shares of American Integrity Insurance Group in a research report on Wednesday, May 13th. Finally, Piper Sandler raised their target price on shares of American Integrity Insurance Group from $20.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, American Integrity Insurance Group has an average rating of "Moderate Buy" and an average target price of $25.75.

American Integrity Insurance Group Stock Performance

NYSE:AII opened at $20.91 on Monday. The stock has a fifty day moving average price of $18.45 and a two-hundred day moving average price of $18.60. The stock has a market capitalization of $409.53 million, a price-to-earnings ratio of 4.77 and a beta of -0.20. American Integrity Insurance Group, Inc. has a 1 year low of $16.19 and a 1 year high of $26.36.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.94 by $0.09. American Integrity Insurance Group had a net margin of 27.56% and a return on equity of 27.04%. The company had revenue of $90.93 million for the quarter. On average, analysts predict that American Integrity Insurance Group, Inc. will post 2.73 EPS for the current year.

Insider Activity at American Integrity Insurance Group

In other American Integrity Insurance Group news, CEO Robert C. Ritchie sold 30,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $20.85, for a total value of $625,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,370,997 shares of the company's stock, valued at approximately $49,435,287.45. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder James E. Sowell bought 79,497 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $16.85 per share, with a total value of $1,339,524.45. Following the completion of the acquisition, the insider owned 4,610,180 shares of the company's stock, valued at $77,681,533. This represents a 1.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 142,256 shares of company stock worth $2,400,973 over the last three months. 16.40% of the stock is currently owned by company insiders.

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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