American Integrity Insurance Group (NYSE:AII) Sets New 52-Week High Following Earnings Beat

Key Points

• American Integrity Insurance Group shares hit a new 52-week high, trading as high as $32.21 after the company reported quarterly results that beat expectations.
• Quarterly EPS was $1.44 versus the $0.67 consensus, with revenue of $113.49 million; net margin was 26.2% and return on equity was 26.74%.
• Citizens JMP raised its price target to $32 and maintained a “market outperform” rating, while a reported increase in the expense ratio could pose a risk to underwriting profitability if it continues.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $32.21 and last traded at $30.08, with a volume of 17,646 shares changing hands. The stock had previously closed at $28.14.

The company reported $1.44 EPS for the quarter, beating the consensus estimate of $0.67 by $0.77. The firm had revenue of $113.49 million during the quarter. American Integrity Insurance Group had a return on equity of 26.74% and a net margin of 26.20%.

Recent American Integrity Insurance Group Headlines

Investors following AII have been watching these headlines:

• Positive Sentiment: Q3 earnings topped expectations. AII reported earnings of $1.44 per share, versus the $0.67 consensus estimate, on revenue of $113.49 million. The company also reported a 26.2% net margin and 26.74% return on equity. MarketBeat earnings results
• Positive Sentiment: Citizens JMP raised its price target to $32 from $29 and reiterated a “market outperform” rating, indicating 6.2% upside from the cited $30.12 share price. Citizens JMP recommendations
• Negative Sentiment: The expense ratio reportedly climbed even as profit more than doubled. Rising expenses could weigh on underwriting profitability if the trend persists. American Banking News report

Analyst Upgrades and Downgrades

Several research firms have recently commented on AII. Citizens Jmp upped their price objective on shares of American Integrity Insurance Group from $29.00 to $32.00 and gave the company a "market outperform" rating in a report on Wednesday. Citigroup reiterated an "outperform" rating on shares of American Integrity Insurance Group in a research note on Monday, October 12th. Piper Sandler raised their target price on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Zacks Research upgraded shares of American Integrity Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Finally, Keefe, Bruyette & Woods upped their price target on shares of American Integrity Insurance Group from $29.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

Insiders Place Their Bets

In other American Integrity Insurance Group news, CEO Robert Ritchie sold 69,727 shares of the business's stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $27.12, for a total transaction of $1,890,996.24. Following the completion of the sale, the chief executive officer directly owned 1,811,133 shares in the company, valued at approximately $49,117,926.96. The trade was a 3.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 467,614 shares of company stock worth $12,245,803 in the last ninety days. Corporate insiders own 16.40% of the company's stock.

Institutional Investors Weigh In On American Integrity Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in American Integrity Insurance Group by 9,544.4% in the third quarter. GAMMA Investing LLC now owns 1,736 shares of the company's stock valued at $43,000 after purchasing an additional 1,718 shares during the period. NewEdge Advisors LLC grew its holdings in shares of American Integrity Insurance Group by 156.2% during the 1st quarter. NewEdge Advisors LLC now owns 4,100 shares of the company's stock worth $79,000 after purchasing an additional 2,500 shares during the period. State of Wyoming purchased a new position in shares of American Integrity Insurance Group during the 1st quarter worth $134,000. Deutsche Bank AG acquired a new stake in shares of American Integrity Insurance Group during the 2nd quarter worth about $199,000. Finally, PDT Partners LLC acquired a new stake in shares of American Integrity Insurance Group during the 2nd quarter worth about $216,000.

American Integrity Insurance Group Stock Performance

The stock has a market capitalization of $589.85 million, a price-to-earnings ratio of 6.69 and a beta of -0.17. The business has a 50-day moving average of $26.93 and a 200-day moving average of $21.18.

About American Integrity Insurance Group

American Integrity Insurance Group, Inc. is a property and casualty insurance holding company focused primarily on the Florida residential market. Its insurance products include coverage for homeowners, condominium unit owners, renters, manufactured homes and rental properties. The company was founded in 2006 and is headquartered in Tampa, Florida. It serves customers through independent insurance agents and operates through its insurance subsidiaries, including American Integrity Insurance Company of Florida.

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