# American Integrity Insurance Group, Inc. (AII)

> Source: Nexqual · https://nexqual.com/AII · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, American Integrity Insurance Group, Inc. (AII), nexqual.com/AII" · informational, not investment advice.

**Price:** USD 28.83 (-1.17% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 29.17 · day 28.57–29.14 · 52w 16.19–29.5 · market cap $565M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $336M, net income $88.1M (26.2% margin), free cash flow $164M (SEC filings).
- Valuation: P/E 6.4x (avg 3.6x at the last 1 fiscal year-ends), net cash $293M.
- Insider open-market sales, last ~7 months: 13 Form 4 filings, $17.5M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 4 Form 4 filings, $2.5M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.50 on a 1–5 scale) (6 analysts), mean target USD 28.25 (range 26–31).
- Total return with dividends: 1Y +26.0% vs S&P 500 +13.4%; 5Y +76.4% vs S&P 500 +76.9%.
- Next earnings: 2026-11-10, EPS estimate USD 0.66, revenue estimate $105M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2024 | FY2025 | TTM |
|---|---|---|---|
| Revenue | $204M | $276M | $336M |
| Net income | $39.7M | $99.6M | $88.1M |
| EPS (diluted) | $2.95 | $5.65 | — |
| Free cash flow | $148M | $133M | $164M |
| Net margin | 19.4% | 36.0% | 26.2% |
| Revenue growth | — | +35.3% | — |
| Cash + short-term investments | $173M | $222M | — |
| Total debt | $1.0M | $618K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 6.4x · P/S 1.7x · EV/Sales 0.8x · P/FCF 3.5x · P/B 1.5x · FCF yield 28.97% · Earnings yield 15.59% · Net cash $293M · EV $272M
P/E at fiscal year-ends: Dec 2025 3.6x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
13 of 13 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-14 | Ritchie Robert C | Chief Executive Officer | 26,436 | $720K | 1.5% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-09…2026-10-13 | Ritchie Robert C | Chief Executive Officer | 123,564 | $3.4M | 6.6% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-31 | Ritchie Robert C | Chief Executive Officer | 9,174 | $238K | 0.5% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-28 | Ritchie Robert C | Chief Executive Officer | 6,000 | $159K | 0.3% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-26…2026-08-27 | Ritchie Robert C | Chief Executive Officer | 64,365 | $1.7M | 3.3% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-24…2026-08-25 | Ritchie Robert C | Chief Executive Officer | 110,461 | $2.9M | 5.3% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-20…2026-08-21 | Ritchie Robert C | Chief Executive Officer | 59,614 | $1.5M | 2.8% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-18…2026-08-19 | Ritchie Robert C | Chief Executive Officer | 18,000 | $456K | 0.8% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-14…2026-08-17 | Ritchie Robert C | Chief Executive Officer | 75,402 | $1.9M | 3.4% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-12…2026-08-13 | Ritchie Robert C | Chief Executive Officer | 88,260 | $2.1M | 3.8% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-10 | Ritchie Robert C | Chief Executive Officer | 5,800 | $120K | 0.2% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-06…2026-08-07 | Ritchie Robert C | Chief Executive Officer | 49,924 | $1.0M | 2.1% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-03…2026-08-04 | Ritchie Robert C | Chief Executive Officer | 63,000 | $1.3M | 2.6% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
4 purchases, $2.5M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-05…2026-06-09 | Sowell James E |  | 136,356 | $2.3M | 16.88 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-26 | Mathis Steven B | Director | 3,000 | $50K | 16.82 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-22 | Smathers Steven E | Director | 2,900 | $49K | 16.99 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-22 | Clark David Lewis | Chairman | 5,830 | $100K | 17.15 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 1.50 on a 1–5 scale), 6 analysts; mean target USD 28.25 (low 26, high 31).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Citizens | Target raised | Market Outperform | $26 → $29 |
| 2026-10-12 | Keefe, Bruyette & Woods | Target raised | Outperform | $29 → $31 |
| 2026-08-13 | Piper Sandler | Target raised | Overweight | $23 → $26 |
| 2026-08-12 | Citizens | Target raised | Market Outperform | $25 → $26 |
| 2026-07-15 | Piper Sandler | Target raised | Overweight | $20 → $23 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2025-05-05) |
|---|---|---|
| Total return | +26.0% | +76.4% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +26.1% | +47.2% |
| Volatility (annualized) | 40.5% | 38.0% |
| Max drawdown | -34.0% (Nov 2025→May 2026) | -30.9% (Nov 2025→May 2026) |

## Peers (Insurance - Property & Casualty)
HMN (Horace Mann Educators Corporati) USD 46.3 -2.26% · PRCH (Porch Group, Inc.) USD 17.73 -1.17% · HCI (HCI Group, Inc.) USD 204.06 -1.27% · SKWD (Skyward Specialty Insurance Gro) USD 60.39 -2.85% · SLDE (Slide Insurance Holdings, Inc.) USD 28.55 +2.88% · LMND (Lemonade, Inc.) USD 44.92 -1.08%

## More
Full page: https://nexqual.com/AII · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in AII's own 10-K filed 2026-02-27 (https://www.sec.gov/Archives/edgar/data/2007587/000200758726000016/aii-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Insurance | "AIIG was founded in 2006 as an insurance holding company by our Chief Executive Officer, Robert Ritchie, in partnership" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.66 | $-0.07 | -1042.9% | $105.4M | 6 |
| Next quarter (ends 2026-12-31) | $0.84 | $0.95 | -12.1% | $108.8M | 6 |
| Current fiscal year (ends 2026-12-31) | $4.30 | $2.79 | +54.0% | $420.3M | 6 |
| Next fiscal year (ends 2027-12-31) | $3.28 | $3.01 | +9.0% | $507.3M | 6 |