Insider Buying: American Integrity Insurance Group (NYSE:AII) Major Shareholder Buys 23,231 Shares of Stock

American Integrity Insurance Group, Inc. (NYSE:AII) major shareholder James Sowell bought 23,231 shares of the company’s stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $16.92 per share, with a total value of $393,068.52. Following the completion of the transaction, the insider directly owned 4,497,055 shares of the company’s stock, valued at approximately $76,090,170.60. The trade was a 0.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

American Integrity Insurance Group Stock Down 1.0%

American Integrity Insurance Group stock traded down $0.17 during trading hours on Thursday, hitting $16.83. The stock had a trading volume of 94,521 shares, compared to its average volume of 124,116. The stock has a market cap of $329.70 million and a price-to-earnings ratio of 3.84. American Integrity Insurance Group, Inc. has a one year low of $15.77 and a one year high of $26.36. The business’s 50 day simple moving average is $18.19 and its 200-day simple moving average is $19.03.

American Integrity Insurance Group (NYSE:AII) last posted its earnings results on Tuesday, May 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. The firm had revenue of $90.93 million during the quarter. American Integrity Insurance Group had a return on equity of 27.04% and a net margin of 27.56%. Research analysts anticipate that American Integrity Insurance Group, Inc. will post 2.73 EPS for the current fiscal year.

Institutional Investors Weigh In On American Integrity Insurance Group

Several large investors have recently added to or reduced their stakes in AII. Franklin Resources Inc. grew its stake in American Integrity Insurance Group by 1,840.0% during the third quarter. Franklin Resources Inc. now owns 2,988,329 shares of the company’s stock worth $66,670,000 after purchasing an additional 2,834,289 shares during the period. Wasatch Advisors LP bought a new stake in American Integrity Insurance Group during the second quarter worth $16,073,000. Boston Partners lifted its holdings in American Integrity Insurance Group by 212.5% during 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. Balyasny Asset Management L.P. bought a new stake in shares of American Integrity Insurance Group in the second quarter valued at $10,409,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of American Integrity Insurance Group in the second quarter valued at $7,356,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AII. Keefe, Bruyette & Woods decreased their price target on American Integrity Insurance Group from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Citizens Jmp decreased their price target on American Integrity Insurance Group from $28.00 to $25.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings raised American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 1st. Finally, Citigroup reissued an “outperform” rating on shares of American Integrity Insurance Group in a research note on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.75.

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.