American Integrity Insurance Group (NYSE:AII) CEO Sells 65,000 Shares of Stock

Key Points

• CEO Robert Ritchie sold 65,000 shares of American Integrity Insurance Group at an average price of $26.29, generating approximately $1.71 million. His remaining direct ownership fell 3.2% to 1,963,536 shares.
• AII shares rose 1.1% to $26.64 and are trading near their 52-week high of $27.00. The company recently reported quarterly EPS of $1.78, exceeding analyst expectations of $0.81.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $26.50 price target, while several institutional investors have recently increased their holdings.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) CEO Robert Ritchie sold 65,000 shares of the 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 transaction, the chief executive officer directly owned 1,963,536 shares of the company's stock, valued at approximately $51,621,361.44. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

American Integrity Insurance Group Trading Up 1.1%

AII stock traded up $0.30 during midday trading on Wednesday, reaching $26.64. The stock had a trading volume of 275,276 shares, compared to its average volume of 133,316. American Integrity Insurance Group, Inc. has a 52-week low of $16.19 and a 52-week high of $27.00. The company's fifty day simple moving average is $20.21 and its 200 day simple moving average is $19.06. The company has a market cap of $521.88 million, a price-to-earnings ratio of 5.92 and a beta of -0.20.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.97. The business had revenue of $115.17 million during the quarter. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. Sell-side analysts predict that American Integrity Insurance Group, Inc. will post 3.79 EPS for the current year.

Institutional Investors Weigh In On American Integrity Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey increased its stake in American Integrity Insurance Group by 172.7% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,446 shares of the company's stock worth $51,000 after purchasing an additional 1,549 shares during the period. NewEdge Advisors LLC purchased a new position in shares of American Integrity Insurance Group in the fourth 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 fourth quarter valued at approximately $42,000. Bank of America Corp DE grew 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, California State Teachers Retirement System grew its holdings in shares of American Integrity Insurance Group by 375.8% in the second quarter. California State Teachers Retirement System now owns 3,145 shares of the company's stock valued at $59,000 after purchasing an additional 2,484 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AII. Citigroup restated an "outperform" rating on shares of American Integrity Insurance Group in a research report on Wednesday, August 12th. Raymond James Financial set a $27.00 price objective on American Integrity Insurance Group in a research note on Thursday, August 20th. Wall Street Zen upgraded American Integrity Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings raised American Integrity Insurance Group from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, June 1st. Finally, Zacks Research upgraded American Integrity Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. One equities 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

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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