Zacks Research Upgrades American Integrity Insurance Group (NYSE:AII) to Strong-Buy

American Integrity Insurance Group (NYSE:AII) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on AII. Wall Street Zen upgraded shares of American Integrity Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup reiterated an “outperform” rating on shares of American Integrity Insurance Group in a research report on Wednesday, August 12th. Citizens Jmp boosted their target price 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. Weiss Ratings raised shares of American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 1st. Finally, Piper Sandler lifted their price objective on American Integrity Insurance Group from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, American Integrity Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $26.75.

American Integrity Insurance Group Price Performance

American Integrity Insurance Group stock opened at $25.19 on Monday. The stock has a market capitalization of $493.47 million, a PE ratio of 5.60 and a beta of -0.20. American Integrity Insurance Group has a 12 month low of $16.19 and a 12 month high of $26.36. The business has a 50 day simple moving average of $19.34 and a 200-day simple moving average of $18.81.

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

Insider Activity

In other news, major shareholder James E. Sowell purchased 79,497 shares of American Integrity Insurance Group stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $16.85 per share, with a total value of $1,339,524.45. Following the completion of the transaction, the insider directly owned 4,610,180 shares of the company’s stock, valued at approximately $77,681,533. The trade was a 1.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert C. Ritchie sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the completion of the transaction, the chief executive officer owned 2,227,013 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders acquired 142,256 shares of company stock valued at $2,400,973 and sold 206,984 shares valued at $4,535,906. 16.40% of the stock is currently owned by insiders.

Institutional Trading of American Integrity Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of AII. Police & Firemen s Retirement System of New Jersey boosted its position in shares of American Integrity Insurance Group by 172.7% during 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 buying an additional 1,549 shares during the last quarter. NewEdge Advisors LLC purchased a new position in American Integrity Insurance Group in the 4th quarter worth about $33,000. New York State Common Retirement Fund bought a new position in American Integrity Insurance Group during the 4th quarter valued at about $42,000. Bank of America Corp DE lifted its stake in American Integrity Insurance Group by 0.8% during the 1st quarter. Bank of America Corp DE now owns 293,443 shares of the company’s stock valued at $5,658,000 after acquiring an additional 2,193 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of American Integrity Insurance Group by 64.5% during the 4th quarter. Osaic Holdings Inc. now owns 6,580 shares of the company’s stock valued at $137,000 after acquiring an additional 2,580 shares during the last quarter.

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.