The Manufacturers Life Insurance Company Invests $908,000 in American Integrity Insurance Group, Inc. $AII

The Manufacturers Life Insurance Company purchased a new position in shares of American Integrity Insurance Group, Inc. (NYSE:AII) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 48,200 shares of the company’s stock, valued at approximately $908,000.

Several other institutional investors also recently bought and sold shares of AII. Franklin Resources Inc. boosted its holdings 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 during the last quarter. BlackRock Inc. acquired a new position in shares of American Integrity Insurance Group during the second quarter valued at approximately $16,723,000. Wasatch Advisors LP purchased a new position in shares of American Integrity Insurance Group in the second quarter valued at approximately $16,073,000. Boston Partners lifted its position 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 valued at $24,316,000 after acquiring an additional 741,002 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of American Integrity Insurance Group in the second quarter worth approximately $10,409,000.

Wall Street Analyst Weigh In

Several research firms recently commented on AII. Zacks Research raised American Integrity Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Piper Sandler lifted their target price 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Integrity Insurance Group in a report on Thursday, August 27th. Raymond James Financial set a $27.00 target price on shares of American Integrity Insurance Group in a research report on Thursday, August 20th. Finally, Citizens Jmp raised 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. One 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, American Integrity Insurance Group has an average rating of “Moderate Buy” and an average price target of $26.50.

American Integrity Insurance Group Stock Performance

Shares of American Integrity Insurance Group stock opened at $26.00 on Friday. American Integrity Insurance Group, Inc. has a one year low of $16.19 and a one year high of $27.00. The company has a market cap of $509.34 million, a price-to-earnings ratio of 5.78 and a beta of -0.08. The business’s 50 day moving average price is $21.57 and its 200 day moving average price is $19.50.

American Integrity Insurance Group (NYSE:AII) last issued 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 return on equity of 26.74% and a net margin of 26.20%.The company had revenue of $115.17 million during the quarter. On average, analysts predict that American Integrity Insurance Group, Inc. will post 3.82 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder James E. Sowell bought 79,497 shares of American Integrity Insurance Group stock in a transaction on Tuesday, June 9th. The shares were bought 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 of the company’s stock, valued at approximately $77,681,533. This trade represents a 1.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert C. Ritchie sold 65,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $26.29, for a total transaction of $1,708,850.00. Following the completion of the transaction, the chief executive officer owned 1,963,536 shares in the company, valued at $51,621,361.44. The trade was a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 474,598 shares of company stock worth $11,513,818. Corporate insiders own 16.40% of the company’s stock.

American Integrity Insurance Group Company Profile

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.