American Integrity Insurance Group

AII · NYSE

$28.95+$0.97 (+3.47%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $27.98

AII analyst rating

BuyConsensus of 4 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy4
Hold0
Underperform0
Sell0

12-month price target · 5 analysts

Average $27.54 (−4.9% downside)

Low: $26.26
Now: $28.95
High: $30.45

Upgrades and downgrades

The latest rating actions, newest first

AII analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citizens	Oct 12, 2026	Maintains	Market Outperform	$26.00 → $29.00	69%
Keefe, Bruyette & Woods	Oct 12, 2026	Maintains	Outperform	$29.00 → $31.00	61%
Piper Sandler	Aug 13, 2026	Maintains	Overweight	$23.00 → $26.00	73%
Citizens	Aug 12, 2026	Maintains	Market Outperform	$25.00 → $26.00	72%
Piper Sandler	Jul 15, 2026	Maintains	Overweight	$20.00 → $23.00	73%
Citizens	May 13, 2026	Maintains	Market Outperform	$28.00 → $25.00	72%
Keefe, Bruyette & Woods	Apr 7, 2026	Maintains	Outperform	$28.00 → $27.00	61%
Keefe, Bruyette & Woods	Mar 9, 2026	Maintains	Outperform	$29.00 → $28.00	61%
Keefe, Bruyette & Woods	Nov 18, 2025	Maintains	Outperform	$26.00 → $29.00	61%
Citizens	Nov 17, 2025	Maintains	Market Outperform	$26.00 → $28.00	69%

The case for and against

Updated Oct 16, 2026

Bull case

American Integrity is attractive fundamentally because it is compounding profitable voluntary growth while reducing dependence on Citizens takeouts, with 2Q26 reported EPS of $1.78 far above the $0.88 consensus and gross written premiums up 14% on 28% voluntary growth. The company’s underwriting quality also improved materially, as the combined ratio fell to 63.4% and the expense ratio dropped nearly 10 points from the prior year period, helped by no catastrophe losses and no reserve development. In addition, the June 1 reinsurance renewal lowered risk-adjusted costs by 15-20% and cut four-event retention to $75 million from $95 million, while Florida reforms and expansion into Tri-County, middle-aged homes, Georgia, and the Carolinas support a longer growth runway.

Bear case

American Integrity is vulnerable because its business is overwhelmingly concentrated in Florida, with 98.6% of direct premiums written and 97.6% of policies in-force there as of December 31, 2024, leaving it highly exposed to state-specific regulation, legal shifts, and economic weakness. Its monoline residential property model also magnifies catastrophe risk, since storms and climate-driven severity could overwhelm reinsurance limits and quickly erode capital, even though the company has been stable and disciplined for more than 19 years. Dependence on third-party distribution partners that face Florida writing restrictions, combined with the pressure of being a newly public company, adds execution risk that could weigh on earnings and investor confidence.

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