American Integrity Insurance Group (NYSE:AII) Price Target Raised to $29.00

American Integrity Insurance Group (NYSE:AII) had its price target hoisted by Citizens Jmp from $26.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Citigroup restated an “outperform” rating on shares of American Integrity Insurance Group in a report on Monday. Piper Sandler boosted 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. Raymond James Financial reissued an “outperform” rating on shares of American Integrity Insurance Group in a report on Tuesday, October 6th. Wall Street Zen upgraded American Integrity Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Zacks Research upgraded American Integrity Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. 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. According to MarketBeat.com, American Integrity Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $28.25.

American Integrity Insurance Group Price Performance

Shares of NYSE AII opened at $27.41 on Monday. The stock’s 50-day moving average is $25.38 and its two-hundred day moving average is $20.86. American Integrity Insurance Group has a 1-year low of $16.19 and a 1-year high of $27.86. The company has a market cap of $536.98 million, a price-to-earnings ratio of 5.94 and a beta of 0.02.

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

Insider Buying and Selling

In related news, CEO Robert Ritchie sold 50,700 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $27.41, for a total value of $1,389,687.00. Following the completion of the sale, the chief executive officer directly owned 1,760,433 shares of the company’s stock, valued at $48,253,468.53. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 598,162 shares of company stock worth $14,879,357. 16.40% of the stock is owned by company insiders.

Institutional Trading of American Integrity Insurance Group

A number of large investors have recently made changes to their positions in AII. Wasatch Advisors LP increased its stake in American Integrity Insurance Group by 5.7% in the second quarter. Wasatch Advisors LP now owns 1,260,169 shares of the company’s stock valued at $23,729,000 after purchasing an additional 67,977 shares during the last quarter. BlackRock Inc. purchased a new position in American Integrity Insurance Group during the second quarter worth about $16,723,000. Freestone Grove Partners LP acquired a new stake in American Integrity Insurance Group in the 2nd quarter worth about $9,251,000. Bank of America Corp DE boosted its stake in American Integrity Insurance Group by 0.8% in the 1st quarter. Bank of America Corp DE now owns 293,443 shares of the company’s stock worth $5,658,000 after buying an additional 2,193 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in American Integrity Insurance Group in the 2nd quarter worth about $2,925,000.

More American Integrity Insurance Group News

Here are the key news stories impacting American Integrity Insurance Group this week:

• Positive Sentiment: Zacks named AII a Strong Buy value stock. The inclusion on Zacks’ Rank #1 value list highlights the company’s low valuation and potentially attractive earnings outlook. AII trades at roughly 6 times earnings, while analysts expect about $3.82 in earnings per share for the current year. Best Value Stocks to Buy for October 14th
• Positive Sentiment: Analyst sentiment and institutional interest remain constructive. Recent coverage cited price-target increases from Keefe, Bruyette & Woods and Citizens JMP, while BlackRock and other institutions established positions during the second quarter. The average analyst price target is approximately $28.25, modestly above the referenced trading level.
• Neutral Sentiment: Momentum is strong, but valuation expectations are becoming more demanding. AII remains close to its 52-week high and trades well above its 50-day and 200-day moving averages. Its latest quarterly results were strong, with EPS of $1.78 versus an $0.81 consensus estimate, but the stock’s proximity to its high leaves less room for disappointing results.
• Negative Sentiment: CEO Robert Ritchie sold a substantial amount of stock. He sold a combined 123,564 shares from October 9 through October 13 for approximately $3.37 million, reducing his direct ownership by about 6.7%. Although he still owns roughly 1.76 million shares, the cluster of sales could raise concerns about insider confidence or near-term valuation and may weigh on the stock. American Integrity Insurance Group CEO Insider Transactions

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.