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

American Integrity Insurance Group (NYSE:AII) posted its quarterly earnings data on Tuesday. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.97, FiscalAI reports. American Integrity Insurance Group had a net margin of 27.56% and a return on equity of 27.04%. The firm had revenue of $115.17 million during the quarter.

American Integrity Insurance Group Stock Performance

NYSE AII opened at $24.01 on Wednesday. The stock has a market cap of $470.46 million, a price-to-earnings ratio of 5.62 and a beta of -0.20. The business has a 50 day simple moving average of $18.59 and a 200 day simple moving average of $18.62. American Integrity Insurance Group has a 52-week low of $16.19 and a 52-week high of $26.36.

Insider Activity at American Integrity Insurance Group

In other news, major shareholder James E. Sowell purchased 79,497 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were purchased 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 of the company’s stock, valued at $77,681,533. This trade represents a 1.75% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven B. Mathis purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $16.82 per share, for a total transaction of $50,460.00. Following the completion of the acquisition, the director owned 6,126 shares of the company’s stock, valued at approximately $103,039.32. This represents a 95.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 142,256 shares of company stock worth $2,400,973 and sold 112,924 shares worth $2,350,190. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of American Integrity Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC bought a new stake in American Integrity Insurance Group during the 4th quarter worth about $33,000. New York State Common Retirement Fund acquired a new position in American Integrity Insurance Group during the fourth quarter valued at approximately $42,000. Police & Firemen s Retirement System of New Jersey grew its stake 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 valued at $51,000 after purchasing an additional 1,549 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of American Integrity Insurance Group during the 3rd quarter worth approximately $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of American Integrity Insurance Group in the 3rd quarter valued at approximately $83,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup restated an “outperform” rating on shares of American Integrity Insurance Group in a research report on Wednesday. Weiss Ratings upgraded American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. Piper Sandler lifted their price objective on American Integrity Insurance Group from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Citizens Jmp upped 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 research report on Wednesday. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Integrity Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

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.