Insider Selling: American Integrity Insurance Group (NYSE:AII) CEO Sells $272,268.59 in Stock

Key Points

• CEO Robert Ritchie sold 12,959 shares of American Integrity Insurance Group at an average price of $21.01, generating $272,268.59. His remaining stake totaled 2,321,073 shares valued at approximately $48.8 million.
• The stock fell 2.5% to $20.48 in midday trading, with a market capitalization of about $401.2 million. The company recently exceeded quarterly EPS expectations, reporting $1.03 versus the $0.94 consensus estimate.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Sell rating, resulting in a Moderate Buy consensus and an average price target of $25.75; institutional investors, including BlackRock and Wasatch Advisors, have also increased their positions.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) CEO Robert Ritchie sold 12,959 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $21.01, for a total transaction of $272,268.59. Following the transaction, the chief executive officer owned 2,321,073 shares of the company's stock, valued at $48,765,743.73. This represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

American Integrity Insurance Group Trading Down 2.5%

American Integrity Insurance Group stock traded down $0.52 during midday trading on Monday, reaching $20.48. 82,643 shares of the stock traded hands, compared to its average volume of 124,787. The firm has a fifty day moving average price of $18.45 and a two-hundred day moving average price of $18.60. American Integrity Insurance Group, Inc. has a fifty-two week low of $16.19 and a fifty-two week high of $26.36. The firm has a market cap of $401.20 million, a price-to-earnings ratio of 4.68 and a beta of -0.20.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On American Integrity Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of American Integrity Insurance Group during the 2nd quarter valued at $16,723,000. Deutsche Bank AG acquired a new stake in shares of American Integrity Insurance Group in the second quarter valued at $199,000. Bank of New York Mellon Corp acquired a new stake in shares of American Integrity Insurance Group in the second quarter valued at $945,000. State of Wyoming bought a new position in American Integrity Insurance Group during the second quarter valued at about $214,000. Finally, Wasatch Advisors LP boosted its stake 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 valued at $23,729,000 after buying an additional 67,977 shares in the last quarter.

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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