American Integrity Insurance Group (NYSE:AII) Reaches New 52-Week High – Time to Buy?

American Integrity Insurance Group, Inc. (NYSE:AII)’s share price hit a new 52-week high during trading on Wednesday. The company traded as high as $29.19 and last traded at $28.9440, with a volume of 198,169 shares changing hands. The stock had previously closed at $27.98.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AII. Zacks Research upgraded shares of American Integrity Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Weiss Ratings reissued a “sell (d)” rating on shares of American Integrity Insurance Group in a research report on Thursday, August 27th. Piper Sandler boosted their price target on American Integrity Insurance Group from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Citizens Jmp increased their target price on shares of American Integrity Insurance Group from $26.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Monday, October 12th. Finally, Citigroup restated an “outperform” rating on shares of American Integrity Insurance Group in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, American Integrity Insurance Group currently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

American Integrity Insurance Group Price Performance

The stock has a market cap of $571.03 million, a P/E ratio of 6.21 and a beta of 0.02. The business’s fifty day moving average price is $26.18 and its 200 day moving average price is $21.25.

American Integrity Insurance Group (NYSE:AII) last posted its earnings results on Tuesday, August 11th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.97. The firm 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%. On average, analysts predict that American Integrity Insurance Group, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert Ritchie sold 69,727 shares of American Integrity Insurance Group stock in a transaction on Monday, October 12th. The shares were sold at an average price of $27.12, for a total transaction of $1,890,996.24. Following the transaction, the chief executive officer owned 1,811,133 shares in the company, valued at approximately $49,117,926.96. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 624,598 shares of company stock worth $15,599,210 over the last ninety days. 16.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On American Integrity Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC bought a new stake in shares of American Integrity Insurance Group in the 3rd quarter valued at $2,322,000. GAMMA Investing LLC grew its stake in American Integrity Insurance Group by 9,544.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,736 shares of the company’s stock valued at $43,000 after purchasing an additional 1,718 shares during the period. Hsbc Holdings PLC boosted its stake in American Integrity Insurance Group by 88.5% in the second quarter. Hsbc Holdings PLC now owns 22,949 shares of the company’s stock valued at $439,000 after acquiring an additional 10,775 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in American Integrity Insurance Group in the second quarter worth $272,000. Finally, Bank of America Corp DE bought a new position in shares of American Integrity Insurance Group during the 2nd quarter worth $3,942,000.

American Integrity Insurance Group Company Profile

American Integrity Insurance Group, Inc is an insurance holding company focused on personal residential property insurance. Through its insurance subsidiaries, the company provides coverage designed to protect homeowners and other residential property owners from risks such as wind, fire, water damage and other covered losses.

The company’s product offerings include homeowners insurance, condominium unit-owner insurance, renters insurance and coverage for residential properties used as rental or investment homes.