American Integrity Insurance Group (NYSE:AII) Sets New 52-Week High - Here's Why

Key Points

• American Integrity Insurance Group shares reached a new 52-week high of $29.87, supported by strong upward momentum; the stock’s 50-day and 200-day moving averages were $26.71 and $20.90, respectively.
• The company reported quarterly EPS of $1.78, beating the $0.81 consensus estimate by $0.97, while generating $115.17 million in revenue and posting a 26.20% net margin.
• Analyst sentiment is mostly positive, with a consensus “Moderate Buy” rating and an average price target of $28.25, although insiders sold 561,598 shares worth about $14.3 million over the past three months.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) hit a new 52-week high on Tuesday. The company traded as high as $29.87 and last traded at $29.4510, with a volume of 10,156 shares changing hands. The stock had previously closed at $29.50.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup restated an "outperform" rating on shares of American Integrity Insurance Group in a report on Monday, October 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. Weiss Ratings reiterated a "sell (d)" rating on shares of American Integrity Insurance Group in a report on Thursday, August 27th. Raymond James Financial reissued an "outperform" rating on shares of American Integrity Insurance Group in a research report on Tuesday, October 6th. Finally, Wall Street Zen upgraded shares of American Integrity Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.25.

American Integrity Insurance Group Stock Up 0.0%

The firm has a market cap of $578.19 million, a PE ratio of 6.59 and a beta of 0.02. The stock has a 50 day moving average price of $26.71 and a two-hundred day moving average price of $20.90.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $0.81 by $0.97. The firm had revenue of $115.17 million during the quarter. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. As a group, equities analysts anticipate that American Integrity Insurance Group, Inc. will post 4.02 earnings per share for the current year.

Insider Activity

In other news, CEO Robert Ritchie sold 69,727 shares of American Integrity Insurance Group stock in a transaction on Monday, October 12th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 561,598 shares of company stock valued at $14,291,270 over the last three months. Company insiders own 16.40% of the company's stock.

Hedge Funds Weigh In On American Integrity Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its stake in American Integrity Insurance Group by 5.7% during the 2nd quarter. Wasatch Advisors LP now owns 1,260,169 shares of the company's stock valued at $23,729,000 after purchasing an additional 67,977 shares during the last quarter. BlackRock Inc. purchased a new position in shares of American Integrity Insurance Group in the second quarter worth about $16,723,000. Freestone Grove Partners LP purchased a new position in shares of American Integrity Insurance Group in the second quarter worth about $9,251,000. Bank of America Corp DE lifted its holdings in shares of American Integrity Insurance Group by 0.8% during the first quarter. Bank of America Corp DE now owns 293,443 shares of the company's stock worth $5,658,000 after purchasing an additional 2,193 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of American Integrity Insurance Group during the second quarter worth about $2,925,000.

American Integrity Insurance Group Company Profile

American Integrity Insurance Group, Inc is an insurance holding company focused on personal residential property insurance. Through its insurance subsidiaries, the company provides coverage designed to protect homeowners and other residential property owners from risks such as wind, fire, water damage and other covered losses.

The company's product offerings include homeowners insurance, condominium unit-owner insurance, renters insurance and coverage for residential properties used as rental or investment homes.

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