American Integrity Insurance Group (NYSE: AII) chief executive Robert Ritchie sold 50,700 shares of the company's stock on Tuesday, October 13, at an average price of $27.41, in a transaction totaling $1,389,687, according to a disclosure filed with the U.S. Securities and Exchange Commission.
The sale represented a 2.80 per cent decrease in Ritchie's position. He directly owned 1,760,433 shares afterward, valued at approximately $48.25 million. A separate MarketBeat tally of his recent filings puts his combined sales from October 9 to 13 at 123,564 shares for roughly $3.37 million, a reduction of about 6.7 per cent in his direct holdings.
AII shares traded up 1.0 per cent on Tuesday to $27.40, on volume of 320,337 shares against a 204,499 average. The Florida-based insurer carries a market capitalization of about $536.73 million and a price-to-earnings ratio of 6.09, and the stock sits near its 52-week high of $27.86 against a low of $16.19.
Analysts covering the name are broadly positive: the consensus rating is "Moderate Buy" with an average target of $28.25, after Keefe, Bruyette & Woods raised its target from $29 to $31 with an "outperform" rating and Citizens JMP lifted its target from $26 to $29 at "market outperform."
Wednesday's session brings a heavy earnings calendar, with Bank of America, Morgan Stanley, BlackRock and ASML all reporting before the open — the results most likely to set the tone for financial and technology shares over the next 24 hours. Insider disclosures report transactions that have already occurred; they are market news, not a recommendation to buy or sell any security.
