The Manufacturers Life Insurance Company Makes New Investment in American Integrity Insurance Group, Inc. $AII

The Manufacturers Life Insurance Company acquired a new stake in shares of American Integrity Insurance Group, Inc. (NYSE:AII) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 48,200 shares of the company’s stock, valued at approximately $908,000. The Manufacturers Life Insurance Company owned 0.25% of American Integrity Insurance Group at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. raised its holdings in shares of 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 last quarter. BlackRock Inc. purchased a new stake in American Integrity Insurance Group in the second quarter valued at $16,723,000. Wasatch Advisors LP purchased a new stake in American Integrity Insurance Group in the second quarter valued at $16,073,000. Boston Partners grew its position in American Integrity Insurance Group by 212.5% during the 3rd quarter. Boston Partners now owns 1,089,780 shares of the company’s stock worth $24,316,000 after purchasing an additional 741,002 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in American Integrity Insurance Group during the 2nd quarter worth about $10,409,000.

American Integrity Insurance Group Stock Performance

Shares of American Integrity Insurance Group stock opened at $26.00 on Friday. The firm has a 50-day simple moving average of $21.57 and a two-hundred day simple moving average of $19.50. American Integrity Insurance Group, Inc. has a fifty-two week low of $16.19 and a fifty-two week high of $27.00. The company has a market cap of $509.34 million, a P/E ratio of 5.78 and a beta of -0.08.

American Integrity Insurance Group (NYSE:AII) last posted its earnings results on Tuesday, August 11th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $115.17 million for the quarter. Equities research analysts forecast that American Integrity Insurance Group, Inc. will post 3.82 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AII. 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 report on Thursday, August 27th. Citigroup reiterated an “outperform” rating on shares of American Integrity Insurance Group in a research report on Wednesday, August 12th. Raymond James Financial set a $27.00 price objective on American Integrity Insurance Group in a research report on Thursday, August 20th. Finally, Wall Street Zen raised shares of American Integrity Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Insider Buying and Selling

In other American Integrity Insurance Group news, major shareholder James E. Sowell bought 79,497 shares of American Integrity Insurance Group stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $16.85 per share, with a total value of $1,339,524.45. Following the purchase, the insider directly owned 4,610,180 shares in the company, valued at $77,681,533. This represents a 1.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert C. Ritchie sold 65,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $26.29, for a total value of $1,708,850.00. Following the transaction, the chief executive officer owned 1,963,536 shares in the company, valued at $51,621,361.44. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 474,598 shares of company stock worth $11,513,818 in the last quarter. 16.40% of the stock is currently owned by company insiders.

American Integrity Insurance Group 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.