Insider Selling: American Integrity Insurance Group (NYSE:AII) CEO Sells $159,000.00 in Stock

Key Points

• CEO Robert Ritchie sold 6,000 AII shares at $26.50 each for $159,000, reducing his ownership by 0.32% while retaining approximately 1.89 million shares valued at $50.2 million.
• American Integrity reported quarterly EPS of $1.78, beating the $0.81 consensus estimate, on revenue of $115.17 million. The company posted a 26.20% net margin and 26.74% return on equity.
• AII shares recently traded at $25.47, near their 12-month high of $27.00. Analysts hold a consensus “Moderate Buy” rating with an average price target of $26.50, although one firm maintains a sell rating.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) CEO Robert Ritchie sold 6,000 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $26.50, for a total transaction of $159,000.00. Following the completion of the transaction, the chief executive officer owned 1,893,171 shares of the company's stock, valued at approximately $50,169,031.50. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

American Integrity Insurance Group Stock Performance

Shares of NYSE:AII traded down $0.53 during mid-day trading on Tuesday, hitting $25.47. The stock had a trading volume of 201,985 shares, compared to its average volume of 193,314. American Integrity Insurance Group, Inc. has a 12-month low of $16.19 and a 12-month high of $27.00. The company has a market cap of $498.96 million, a PE ratio of 5.62 and a beta of -0.09. The company's 50 day moving average is $21.09 and its 200-day moving average is $19.34.

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

Institutional Trading of American Integrity Insurance Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in shares of American Integrity Insurance Group by 1,840.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,988,329 shares of the company's stock valued at $66,670,000 after acquiring an additional 2,834,289 shares during the last quarter. Wasatch Advisors LP boosted its position in American Integrity Insurance Group by 5.7% during the second quarter. Wasatch Advisors LP now owns 1,260,169 shares of the company's stock worth $23,729,000 after purchasing an additional 67,977 shares during the period. Boston Partners grew its holdings in American Integrity Insurance Group by 9.3% during the fourth quarter. Boston Partners now owns 1,191,145 shares of the company's stock valued at $24,809,000 after purchasing an additional 101,365 shares during the last quarter. BlackRock Inc. bought a new position in shares of American Integrity Insurance Group in the second quarter valued at approximately $16,723,000. Finally, Mink Brook Asset Management LLC raised its position in shares of American Integrity Insurance Group by 35.5% in the fourth quarter. Mink Brook Asset Management LLC now owns 648,405 shares of the company's stock valued at $13,506,000 after purchasing an additional 169,932 shares during the period.

Wall Street Analyst Weigh In

AII has been the subject of a number of research analyst reports. Citizens Jmp increased their price target on shares of 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. Weiss Ratings restated a "sell (d)" rating on shares of American Integrity Insurance Group in a report on Thursday, August 27th. Piper Sandler upped their price target on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. Wall Street Zen raised American Integrity Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Raymond James Financial set a $27.00 target price on American Integrity Insurance Group in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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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