American Integrity Insurance Group (NYSE:AII) Sets New 52-Week High Following Earnings Beat

Shares of American Integrity Insurance Group, Inc. (NYSE:AII) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $32.21 and last traded at $30.08, with a volume of 17,646 shares traded. The stock had previously closed at $28.14.

The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.77. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. The business had revenue of $113.49 million for the quarter.

Key Headlines Impacting American Integrity Insurance Group

Investors following AII have been watching these headlines:

• Positive Sentiment: Q3 earnings topped expectations. AII reported earnings of $1.44 per share, versus the $0.67 consensus estimate, on revenue of $113.49 million. The company also reported a 26.2% net margin and 26.74% return on equity. MarketBeat earnings results
• Positive Sentiment: Citizens JMP raised its price target to $32 from $29 and reiterated a “market outperform” rating, indicating 6.2% upside from the cited $30.12 share price. Citizens JMP recommendations
• Negative Sentiment: The expense ratio reportedly climbed even as profit more than doubled. Rising expenses could weigh on underwriting profitability if the trend persists. American Banking News report

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AII. Weiss Ratings reissued a “sell (d)” rating on shares of American Integrity Insurance Group in a research report on Thursday, August 27th. Raymond James Financial reaffirmed an “outperform” rating on shares of American Integrity Insurance Group in a report on Tuesday, October 6th. Piper Sandler lifted their price target on shares of American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Zacks Research upgraded shares of American Integrity Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Finally, Citigroup reiterated an “outperform” rating on shares of American Integrity Insurance Group in a report on Monday, October 12th. One investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insider Transactions at American Integrity Insurance Group

In related news, CEO Robert Ritchie sold 69,727 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $27.12, for a total value of $1,890,996.24. Following the completion of the transaction, the chief executive officer directly owned 1,811,133 shares of the company’s stock, valued at $49,117,926.96. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 467,614 shares of company stock valued at $12,245,803 over the last three months. Company insiders own 16.40% of the company’s stock.

Institutional Trading of American Integrity Insurance Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised 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 last quarter. NewEdge Advisors LLC lifted its holdings in American Integrity Insurance Group by 156.2% in the 1st quarter. NewEdge Advisors LLC now owns 4,100 shares of the company’s stock valued at $79,000 after purchasing an additional 2,500 shares in the last quarter. State of Wyoming acquired a new stake in shares of American Integrity Insurance Group during the 1st quarter worth about $134,000. Deutsche Bank AG acquired a new stake in shares of American Integrity Insurance Group during the 2nd quarter worth about $199,000. Finally, PDT Partners LLC acquired a new stake in shares of American Integrity Insurance Group during the 2nd quarter worth about $216,000.

American Integrity Insurance Group Stock Up 7.0%

The firm has a market capitalization of $589.85 million, a PE ratio of 6.69 and a beta of -0.17. The business’s fifty day moving average price is $26.93 and its 200 day moving average price is $21.18.

About American Integrity Insurance Group

American Integrity Insurance Group, Inc. is a property and casualty insurance holding company focused primarily on the Florida residential market. Its insurance products include coverage for homeowners, condominium unit owners, renters, manufactured homes and rental properties. The company was founded in 2006 and is headquartered in Tampa, Florida. It serves customers through independent insurance agents and operates through its insurance subsidiaries, including American Integrity Insurance Company of Florida.