American Integrity Insurance Group (NYSE:AII) Sets New 12-Month High - Still a Buy?

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.00 and last traded at $26.64, with a volume of 275440 shares changing hands. The stock had previously closed at $26.34.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings upgraded American Integrity Insurance Group from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, June 1st. Citizens Jmp boosted their target price on American Integrity Insurance Group from $25.00 to $26.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 12th. Zacks Research upgraded shares of American Integrity Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Citigroup reiterated an "outperform" rating on shares of American Integrity Insurance Group in a report on Wednesday, August 12th. Finally, Piper Sandler upped their price objective on American Integrity Insurance Group from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. One investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $26.50.

American Integrity Insurance Group Trading Up 1.1%

The company has a 50-day moving average of $20.39 and a 200-day moving average of $19.12. The company has a market capitalization 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, beating the consensus estimate of $0.81 by $0.97. The firm had revenue of $115.17 million for the quarter. American Integrity Insurance Group had a return on equity of 26.74% and a net margin of 26.20%. On average, research analysts expect that American Integrity Insurance Group, Inc. will post 3.79 EPS for the current year.

Insider Activity

In other news, major shareholder James E. Sowell purchased 79,497 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $16.85 per share, for a total transaction of $1,339,524.45. Following the completion of the transaction, the insider owned 4,610,180 shares of the company's stock, valued at $77,681,533. This trade represents a 1.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert C. Ritchie sold 65,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $26.29, for a total transaction of $1,708,850.00. Following the completion of the transaction, the chief executive officer directly owned 1,963,536 shares in the company, valued at approximately $51,621,361.44. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 136,356 shares of company stock valued at $2,301,242 and have sold 395,059 shares valued at $9,405,788. 16.40% of the stock is owned by corporate insiders.

Institutional Trading of American Integrity Insurance Group

Several institutional investors have recently made changes to their positions in AII. Geode Capital Management LLC purchased a new position in American Integrity Insurance Group during the 2nd quarter valued at about $1,382,000. XTX Topco Ltd purchased a new stake in American Integrity Insurance Group during the second quarter worth approximately $192,000. Marshall Wace LLP acquired a new position in American Integrity Insurance Group in the second quarter valued at approximately $2,123,000. Qube Research & Technologies Ltd purchased a new position in American Integrity Insurance Group in the second quarter valued at approximately $292,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in American Integrity Insurance Group during the second quarter worth approximately $7,356,000.

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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