Insider Buying: American Integrity Insurance Group (NYSE:AII) Major Shareholder Buys $1,339,524.45 in Stock

American Integrity Insurance Group, Inc. (NYSE:AII) major shareholder James Sowell acquired 79,497 shares of American Integrity Insurance Group stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average price of $16.85 per share, for a total transaction of $1,339,524.45. Following the completion of the transaction, the insider directly owned 4,610,180 shares in the company, valued at approximately $77,681,533. The trade was a 1.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

American Integrity Insurance Group Price Performance

AII opened at $17.11 on Friday. American Integrity Insurance Group, Inc. has a 1 year low of $15.77 and a 1 year high of $26.36. The stock’s 50 day simple moving average is $18.10 and its 200 day simple moving average is $19.00. The firm has a market cap of $335.15 million and a price-to-earnings ratio of 3.91.

American Integrity Insurance Group (NYSE:AII) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. American Integrity Insurance Group had a return on equity of 27.04% and a net margin of 27.56%.The business had revenue of $90.93 million during the quarter. As a group, sell-side analysts anticipate that American Integrity Insurance Group, Inc. will post 2.73 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citizens Jmp dropped their price objective on American Integrity Insurance Group from $28.00 to $25.00 and set a “market outperform” rating for the company in a report on Wednesday, May 13th. Weiss Ratings upgraded American Integrity Insurance Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 1st. Citigroup reiterated an “outperform” rating on shares of American Integrity Insurance Group in a research note on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods lowered their price objective 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. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, American Integrity Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $26.75.

Institutional Trading of American Integrity Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of AII. Franklin Resources Inc. increased its holdings in shares of 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 purchasing an additional 2,834,289 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of American Integrity Insurance Group in the 2nd quarter worth $16,073,000. Boston Partners increased its holdings in shares of American Integrity Insurance Group by 212.5% in 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 in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of American Integrity Insurance Group in the 2nd quarter worth $10,409,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of American Integrity Insurance Group in the 2nd quarter worth $7,356,000.

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.