Robert Ritchie Sells 24,614 Shares of American Integrity Insurance Group (NYSE:AII) Stock

Key Points

• CEO Robert Ritchie sold 24,614 AII shares for approximately $632,088, reducing his holdings by 1.17% to 2.07 million shares valued at about $53.26 million.
• American Integrity reported quarterly EPS of $1.78, beating the $0.81 consensus estimate, on revenue of $115.17 million. The stock recently traded at $26.20, near its 12-month high of $26.56.
• Analyst sentiment remains favorable, with an overall “Moderate Buy” rating and an average price target of $26.50; several institutional investors also increased or initiated positions in the company.

American Integrity Insurance Group, Inc. (NYSE:AII - Get Free Report) CEO Robert Ritchie sold 24,614 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $25.68, for a total value of $632,087.52. Following the transaction, the chief executive officer owned 2,073,997 shares in the company, valued at $53,260,242.96. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

American Integrity Insurance Group Stock Performance

Shares of AII traded up $0.85 on Monday, reaching $26.20. The stock had a trading volume of 288,155 shares, compared to its average volume of 131,795. The firm has a market capitalization of $513.34 million, a price-to-earnings ratio of 5.82 and a beta of -0.20. The company has a 50-day simple moving average of $19.83 and a 200-day simple moving average of $18.95. American Integrity Insurance Group, Inc. has a 12-month low of $16.19 and a 12-month high of $26.56.

American Integrity Insurance Group (NYSE:AII - Get Free Report) last issued its quarterly earnings results 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. The company 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, analysts expect that American Integrity Insurance Group, Inc. will post 3.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on AII shares. Weiss Ratings upgraded shares of American Integrity Insurance Group from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, June 1st. Piper Sandler boosted their price objective on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. 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. Raymond James Financial set a $27.00 target price on shares of American Integrity Insurance Group in a research note on Thursday. Finally, Citizens Jmp lifted their target price on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, American Integrity Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $26.50.

Institutional Investors Weigh In On American Integrity Insurance Group

A number of institutional investors have recently modified their holdings of AII. California State Teachers Retirement System raised its position in shares of American Integrity Insurance Group by 375.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,145 shares of the company's stock worth $59,000 after purchasing an additional 2,484 shares during the last quarter. Hsbc Holdings PLC grew its position 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 valued at $439,000 after purchasing an additional 10,775 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in American Integrity Insurance Group during the 2nd quarter valued at about $272,000. Bank of America Corp DE bought a new stake in American Integrity Insurance Group during the 2nd quarter valued at about $3,942,000. Finally, Freestone Grove Partners LP bought a new stake in American Integrity Insurance Group during the 2nd quarter valued at about $9,251,000.

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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