American Integrity Insurance Group (NYSE:AII) Reaches New 1-Year High – Should You Buy?

Shares of American Integrity Insurance Group, Inc. (NYSE:AII) reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $27.00 and last traded at $27.1760, with a volume of 2598 shares changing hands. The stock had previously closed at $26.97.

Analysts Set New Price Targets

A number of brokerages recently commented on AII. 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, August 13th. Zacks Research raised American Integrity Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Integrity Insurance Group in a research note on Thursday, August 27th. Raymond James Financial reiterated an “outperform” rating on shares of American Integrity Insurance Group in a research report on Tuesday. Finally, Wall Street Zen upgraded American Integrity Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, American Integrity Insurance Group has an average rating of “Moderate Buy” and an average target price of $26.50.

American Integrity Insurance Group Price Performance

The stock has a market capitalization of $525.83 million, a P/E ratio of 5.96 and a beta of 0.02. The stock’s fifty day moving average is $24.86 and its 200-day moving average is $20.64.

American Integrity Insurance Group (NYSE:AII) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, beating 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 company had revenue of $115.17 million for the quarter. On average, research analysts expect that American Integrity Insurance Group, Inc. will post 3.82 EPS for the current year.

Insider Transactions at American Integrity Insurance Group

In other American Integrity Insurance Group news, CEO Robert Ritchie sold 9,174 shares of American Integrity Insurance Group stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $25.92, for a total value of $237,790.08. Following the transaction, the chief executive officer directly owned 1,883,997 shares of the company’s stock, valued at $48,833,202.24. The trade was a 0.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 474,598 shares of company stock valued at $11,513,818. Company insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in American Integrity Insurance Group in the second quarter valued at about $16,723,000. Freestone Grove Partners LP acquired a new position in American Integrity Insurance Group during the 2nd quarter worth about $9,251,000. Wasatch Advisors LP lifted its position in shares of 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 purchasing an additional 331,766 shares in the last quarter. Bank of America Corp DE bought a new position in American Integrity Insurance Group in the 2nd quarter valued at $3,942,000. Finally, Algert Global LLC bought a new position in American Integrity Insurance Group in the second quarter valued at about $2,925,000.

About American Integrity Insurance Group

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.