Wall Street Zen Upgrades American Integrity Insurance Group (NYSE:AII) to Buy

American Integrity Insurance Group (NYSE:AII) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other research analysts have also recently weighed in on AII. Citizens Jmp lifted their price target on shares of American Integrity Insurance Group from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 12th. Piper Sandler upped their price objective on American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup reiterated an “outperform” rating on shares of American Integrity Insurance Group in a research report on Wednesday. Finally, Weiss Ratings raised American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, American Integrity Insurance Group has an average rating of “Moderate Buy” and an average target price of $26.75.

American Integrity Insurance Group Stock Down 0.1%

Shares of NYSE:AII opened at $23.97 on Friday. The stock has a market capitalization of $469.55 million, a PE ratio of 5.33 and a beta of -0.20. The firm’s 50 day moving average price is $19.01 and its 200-day moving average price is $18.72. American Integrity Insurance Group has a twelve month low of $16.19 and a twelve month high of $26.36.

American Integrity Insurance Group (NYSE:AII) last announced its earnings results on Tuesday, August 11th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.97. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. The company had revenue of $115.17 million during the quarter. Analysts expect that American Integrity Insurance Group will post 3.32 earnings per share for the current fiscal year.

Insider Activity at American Integrity Insurance Group

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AII. Franklin Resources Inc. increased its stake in American Integrity Insurance Group by 1,840.0% in the 3rd quarter. Franklin Resources Inc. now owns 2,988,329 shares of the company’s stock worth $66,670,000 after buying an additional 2,834,289 shares in the last quarter. BlackRock Inc. purchased a new position in shares of American Integrity Insurance Group in the second quarter valued at about $16,723,000. Wasatch Advisors LP purchased a new position in shares of American Integrity Insurance Group in the second quarter valued at about $16,073,000. Boston Partners boosted its stake in shares of American Integrity Insurance Group by 212.5% in the third quarter. Boston Partners now owns 1,089,780 shares of the company’s stock worth $24,316,000 after acquiring an additional 741,002 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of American Integrity Insurance Group in the second quarter worth about $10,409,000.

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.