American Integrity Insurance Group (NYSE:AII) Reaches New 12-Month High – Still a Buy?

American Integrity Insurance Group, Inc. (NYSE:AII) reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $28.25 and last traded at $27.9250, with a volume of 36,789 shares trading hands. The stock had previously closed at $27.55.

Wall Street Analysts Forecast Growth

AII has been the topic of a number of research reports. Raymond James Financial restated an “outperform” rating on shares of American Integrity Insurance Group in a research note on Tuesday, October 6th. Citizens Jmp lifted their price target on 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. Keefe, Bruyette & Woods boosted their price objective on American Integrity Insurance Group from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, October 12th. Piper Sandler increased their price objective on American Integrity Insurance Group from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Finally, Wall Street Zen raised American Integrity Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One equities research 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.com, 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 capitalization of $537.75 million, a PE ratio of 6.10 and a beta of 0.02. The stock has a 50 day moving average of $25.64 and a two-hundred day moving average of $20.97.

American Integrity Insurance Group (NYSE:AII) last posted its quarterly 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. American Integrity Insurance Group had a net margin of 26.20% and a return on equity of 26.74%. The business had revenue of $115.17 million for the quarter. As a group, research analysts predict that American Integrity Insurance Group, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling at American Integrity Insurance Group

In related news, CEO Robert Ritchie sold 69,727 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were 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 owned 1,811,133 shares of the company’s stock, valued at approximately $49,117,926.96. The trade was a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 624,598 shares of company stock valued at $15,599,210 over the last ninety days. Insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On American Integrity Insurance Group

Several large investors have recently added to or reduced their stakes in AII. BlackRock Inc. acquired a new position in American Integrity Insurance Group in the second quarter valued at $16,723,000. Freestone Grove Partners LP acquired a new stake in American Integrity Insurance Group during the second quarter worth about $9,251,000. Wasatch Advisors LP increased its stake in American Integrity Insurance Group by 38.6% during the first quarter. Wasatch Advisors LP now owns 1,192,192 shares of the company’s stock worth $22,985,000 after acquiring an additional 331,766 shares during the last quarter. Bank of America Corp DE acquired a new stake in American Integrity Insurance Group during the second quarter worth about $3,942,000. Finally, Algert Global LLC purchased a new position in shares of American Integrity Insurance Group in the 2nd quarter worth about $2,925,000.

American Integrity Insurance Group Company Profile

American Integrity Insurance Group, Inc is an insurance company focused on residential property coverage in catastrophe-exposed markets. Through its insurance subsidiaries, the company primarily serves homeowners and other residential policyholders, with an emphasis on providing protection against risks such as wind, hurricanes and other property-related losses.

Its product offerings include homeowners insurance and related personal-lines products for owner-occupied residences, condominium unit owners, renters and other residential properties.