American Integrity Insurance Group (NYSE:AII) Announces Quarterly Earnings Results

American Integrity Insurance Group (NYSE:AII) issued its quarterly earnings results on Tuesday. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.32, Zacks reports. American Integrity Insurance Group had a net margin of 31.63% and a return on equity of 37.99%.

American Integrity Insurance Group Trading Up 2.9%

AII traded up $0.52 during trading on Tuesday, reaching $18.21. The stock had a trading volume of 147,835 shares, compared to its average volume of 125,228. American Integrity Insurance Group has a one year low of $15.77 and a one year high of $26.36. The company has a market capitalization of $356.57 million and a price-to-earnings ratio of 4.05. The stock’s 50 day moving average is $19.22 and its two-hundred day moving average is $20.64.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup reaffirmed a “market outperform” rating on shares of American Integrity Insurance Group in a report on Friday, January 16th. Keefe, Bruyette & Woods boosted their target price on American Integrity Insurance Group from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Citizens Jmp boosted their price objective on American Integrity Insurance Group from $26.00 to $28.00 and gave the company a “market outperform” rating in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Integrity Insurance Group in a research note on Wednesday, January 21st. Finally, Raymond James Financial set a $28.00 price target on shares of American Integrity Insurance Group in a report on Friday, January 16th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, American Integrity Insurance Group has an average rating of “Moderate Buy” and an average target price of $28.00.

Insider Activity

In other American Integrity Insurance Group news, major shareholder James E. Sowell sold 295,037 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $19.00, for a total transaction of $5,605,703.00. Following the completion of the transaction, the insider owned 4,473,824 shares of the company’s stock, valued at approximately $85,002,656. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert C. Ritchie sold 59,554 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $19.00, for a total value of $1,131,526.00. Following the completion of the sale, the chief executive officer directly owned 2,417,212 shares in the company, valued at approximately $45,927,028. This represents a 2.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On American Integrity Insurance Group

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its holdings in shares of American Integrity Insurance Group by 1,840.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,988,329 shares of the company’s stock valued at $66,670,000 after buying an additional 2,834,289 shares during the period. Wasatch Advisors LP purchased a new stake in American Integrity Insurance Group during the second quarter valued at $16,073,000. Boston Partners lifted its holdings in American Integrity Insurance Group by 212.5% in the third quarter. Boston Partners now owns 1,089,780 shares of the company’s stock valued at $24,316,000 after acquiring an additional 741,002 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of American Integrity Insurance Group during the 2nd quarter valued at about $10,409,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of American Integrity Insurance Group during the 2nd quarter valued at about $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.