Insider Selling: American Integrity Insurance Group (NYSE:AII) CEO Sells 12,000 Shares of Stock

Key Points

• CEO Robert Ritchie sold 12,000 AII shares at an average price of $25.34, generating $304,080 and reducing his direct stake by 0.56% to 2.14 million shares.
• American Integrity Insurance Group shares rose 1.9% to $25.34, while the company reported quarterly EPS of $1.78—well above the $0.81 consensus estimate—and revenue of $115.17 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $26.50; several institutional investors also initiated or increased positions during the second quarter.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) CEO Robert Ritchie sold 12,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $25.34, for a total transaction of $304,080.00. Following the completion of the sale, the chief executive officer directly owned 2,139,611 shares in the company, valued at approximately $54,217,742.74. The trade was a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

American Integrity Insurance Group Trading Up 1.9%

AII stock traded up $0.47 during trading on Thursday, hitting $25.34. 146,918 shares of the stock traded hands, compared to its average volume of 129,941. The stock has a market cap of $496.41 million, a price-to-earnings ratio of 5.63 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 $26.36. The company has a 50 day simple moving average of $19.50 and a 200 day simple moving average of $18.86.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.97. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. The firm had revenue of $115.17 million for the quarter. As a group, analysts predict that American Integrity Insurance Group, Inc. will post 3.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its holdings in American Integrity Insurance Group by 88.5% during the 2nd quarter. Hsbc Holdings PLC now owns 22,949 shares of the company's stock worth $439,000 after buying an additional 10,775 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of American Integrity Insurance Group in the 2nd quarter valued at $272,000. Bank of America Corp DE acquired a new stake in shares of American Integrity Insurance Group in the 2nd quarter valued at $3,942,000. Freestone Grove Partners LP bought a new stake in shares of American Integrity Insurance Group during the second quarter worth $9,251,000. Finally, Man Group plc acquired a new position in shares of American Integrity Insurance Group during the second quarter valued at $1,309,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AII. Wall Street Zen raised American Integrity Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings upgraded American Integrity Insurance Group from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, June 1st. Zacks Research upgraded American Integrity Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Monday. Citizens Jmp lifted their price target on American Integrity Insurance Group from $25.00 to $26.00 and gave the company a "market outperform" rating in a report on Wednesday, August 12th. Finally, Citigroup reiterated an "outperform" rating on shares of American Integrity Insurance Group in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $26.50.

American Integrity Insurance Group Company Profile

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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