American Integrity Insurance Group (NYSE:AII) Rating Increased to Strong-Buy at Zacks Research

American Integrity Insurance Group (NYSE:AII) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Citigroup restated an “outperform” rating on shares of American Integrity Insurance Group in a report on Wednesday, August 12th. Wall Street Zen raised shares of American Integrity Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday. 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 lifted their price target on American Integrity Insurance Group from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Finally, Citizens Jmp increased their price target on shares of 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. One equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.75.

American Integrity Insurance Group Stock Performance

Shares of American Integrity Insurance Group stock opened at $25.19 on Monday. The stock has a 50 day moving average price of $19.34 and a 200-day moving average price of $18.81. American Integrity Insurance Group has a one year low of $16.19 and a one year high of $26.36. The stock has a market cap of $493.47 million, a price-to-earnings ratio of 5.60 and a beta of -0.20.

American Integrity Insurance Group (NYSE:AII) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.97. The business had revenue of $115.17 million for the quarter. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. Sell-side analysts predict that American Integrity Insurance Group will post 3.32 earnings per share for the current fiscal year.

Insider Buying and Selling at American Integrity Insurance Group

In other American Integrity Insurance Group news, CEO Robert C. Ritchie sold 50,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the sale, the chief executive officer directly owned 2,227,013 shares of the company’s stock, valued at approximately $52,668,857.45. This trade represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James E. Sowell acquired 79,497 shares of American Integrity Insurance Group stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $16.85 per share, with a total value of $1,339,524.45. Following the purchase, the insider directly owned 4,610,180 shares in the company, valued at approximately $77,681,533. The trade was a 1.75% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 142,256 shares of company stock worth $2,400,973 and sold 206,984 shares worth $4,535,906. 16.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Integrity Insurance Group

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC acquired a new stake in shares of American Integrity Insurance Group during the 2nd quarter worth approximately $1,382,000. XTX Topco Ltd acquired a new position in shares of American Integrity Insurance Group in the 2nd quarter valued at $192,000. Marshall Wace LLP purchased a new stake in American Integrity Insurance Group during the second quarter worth $2,123,000. Qube Research & Technologies Ltd acquired a new stake in American Integrity Insurance Group during the second quarter valued at $292,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in American Integrity Insurance Group during the second quarter valued at $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.