Robert Ritchie Sells 54,365 Shares of American Integrity Insurance Group (NYSE:AII) Stock

Key Points

• CEO Robert Ritchie sold 54,365 American Integrity Insurance Group shares for approximately $1.45 million at an average price of $26.63, reducing his ownership by 2.77% to 1.91 million shares.
• 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 traded near their 52-week high at $26.26, while analysts maintained a generally positive outlook: the stock carries a “Moderate Buy” consensus rating and an average price target of $26.50.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) CEO Robert Ritchie sold 54,365 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $26.63, for a total value of $1,447,739.95. Following the transaction, the chief executive officer owned 1,909,171 shares in the company, valued at $50,841,223.73. The trade was a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

American Integrity Insurance Group Price Performance

Shares of NYSE:AII traded down $0.03 during mid-day trading on Friday, hitting $26.26. The company had a trading volume of 109,649 shares, compared to its average volume of 133,098. The firm has a fifty day moving average price of $20.58 and a 200 day moving average price of $19.17. The company has a market capitalization of $514.43 million, a PE ratio of 5.84 and a beta of -0.20. American Integrity Insurance Group, Inc. has a one year low of $16.19 and a one 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Research analysts expect that American Integrity Insurance Group, Inc. will post 3.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Integrity Insurance Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of American Integrity Insurance Group by 1,840.0% in the third quarter. Franklin Resources Inc. now owns 2,988,329 shares of the company's stock worth $66,670,000 after purchasing an additional 2,834,289 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of 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 valued at $23,729,000 after buying an additional 67,977 shares during the last quarter. Boston Partners boosted its position in shares of 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 buying an additional 101,365 shares during the last quarter. BlackRock Inc. bought a new stake in American Integrity Insurance Group during the second quarter worth $16,723,000. Finally, Mink Brook Asset Management LLC grew its holdings in American Integrity Insurance Group by 35.5% during the fourth quarter. Mink Brook Asset Management LLC now owns 648,405 shares of the company's stock worth $13,506,000 after buying an additional 169,932 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AII shares. Weiss Ratings raised shares of American Integrity Insurance Group from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday, June 1st. Raymond James Financial set a $27.00 target price on American Integrity Insurance Group in a research report on Thursday, August 20th. Piper Sandler upped their price target on 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 upgraded American Integrity Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Citizens Jmp raised their price objective on American Integrity Insurance Group from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 12th. 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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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