American Integrity Insurance Group, Inc. (NYSE:AII) Sees Significant Increase in Short Interest

American Integrity Insurance Group, Inc. (NYSE:AII) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 309,442 shares, a growth of 71.7% from the June 30th total of 180,264 shares. Based on an average trading volume of 83,105 shares, the short-interest ratio is currently 3.7 days. Currently, 1.9% of the company’s stock are sold short.

American Integrity Insurance Group Trading Up 0.1%

Shares of AII opened at $20.29 on Friday. The firm has a market cap of $397.48 million, a PE ratio of 4.63 and a beta of -0.14. The firm has a fifty day simple moving average of $18.02 and a two-hundred day simple moving average of $18.54. American Integrity Insurance Group has a 1-year low of $16.19 and a 1-year high of $26.36.

American Integrity Insurance Group (NYSE:AII) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. American Integrity Insurance Group had a return on equity of 27.04% and a net margin of 27.56%.The firm had revenue of $90.93 million for the quarter. As a group, research analysts forecast that American Integrity Insurance Group will post 2.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings upgraded American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 1st. Citizens Jmp cut their target price on American Integrity Insurance Group from $28.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 13th. Piper Sandler raised their price target on American Integrity Insurance Group from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price target on American Integrity Insurance Group from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, Citigroup reiterated an “outperform” rating on shares of American Integrity Insurance Group in a research note on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Insider Transactions at American Integrity Insurance Group

In other American Integrity Insurance Group news, Director Steven E. Smathers purchased 2,900 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $16.99 per share, with a total value of $49,271.00. Following the transaction, the director directly owned 177,827 shares in the company, valued at approximately $3,021,280.73. The trade was a 1.66% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder James E. Sowell acquired 79,497 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $16.85 per share, for a total transaction of $1,339,524.45. Following the purchase, the insider directly owned 4,610,180 shares of the company’s stock, valued at $77,681,533. This represents a 1.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 142,256 shares of company stock valued at $2,400,973. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of American Integrity Insurance Group

Several large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC purchased a new stake in shares of American Integrity Insurance Group in the 4th quarter worth $33,000. New York State Common Retirement Fund bought a new stake in American Integrity Insurance Group during the fourth quarter valued at about $42,000. Police & Firemen s Retirement System of New Jersey increased its position in American Integrity Insurance Group by 172.7% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,446 shares of the company’s stock worth $51,000 after buying an additional 1,549 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in American Integrity Insurance Group in the third quarter worth about $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of American Integrity Insurance Group in the third quarter worth about $83,000.

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.