American Coastal Insurance (NASDAQ:ACIC) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of American Coastal Insurance (NASDAQ:ACIC) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Other equities research analysts have also issued research reports about the stock. Oppenheimer began coverage on shares of American Coastal Insurance in a research note on Monday, January 12th. They issued a “market perform” rating for the company. Weiss Ratings raised American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

American Coastal Insurance Price Performance

Shares of American Coastal Insurance stock opened at $11.31 on Friday. The firm has a market cap of $551.48 million, a price-to-earnings ratio of 6.61, a P/E/G ratio of 2.54 and a beta of -0.59. The stock has a 50-day simple moving average of $11.81 and a 200-day simple moving average of $11.50. American Coastal Insurance has a 52-week low of $9.97 and a 52-week high of $13.50.

American Coastal Insurance (NASDAQ:ACIC) last posted its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter. American Coastal Insurance had a net margin of 25.95% and a return on equity of 30.06%. The firm had revenue of $0.09 million during the quarter.

American Coastal Insurance Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, January 9th. Investors of record on Friday, January 2nd were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 2nd.

Institutional Investors Weigh In On American Coastal Insurance

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in shares of American Coastal Insurance by 4,508.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company’s stock worth $30,000 after buying an additional 2,615 shares during the period. Tower Research Capital LLC TRC increased its position in shares of American Coastal Insurance by 273.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company’s stock valued at $52,000 after buying an additional 3,434 shares in the last quarter. State of Wyoming bought a new stake in shares of American Coastal Insurance in the second quarter worth about $59,000. State of Alaska Department of Revenue increased its stake in American Coastal Insurance by 148.5% during the 4th quarter. State of Alaska Department of Revenue now owns 5,168 shares of the company’s stock worth $65,000 after purchasing an additional 3,088 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of American Coastal Insurance by 583.3% during the third quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $68,000 after acquiring an additional 5,092 shares during the period. Institutional investors own 22.11% of the company’s stock.

American Coastal Insurance Company Profile

American Coastal Insurance Company (NASDAQ:ACIC) is a specialized property and casualty insurer focused on coastal residential and commercial lines across the Southeastern United States. Headquartered in St. Petersburg, Florida, the company underwrites policies designed to address windstorm and non-windstorm perils in areas exposed to hurricane risk. Since its founding in 2007, American Coastal has positioned itself to meet the insurance needs of homeowners, condominium associations, and small business owners operating near coastal zones.

Through a diversified portfolio of personal lines products, American Coastal offers homeowners insurance, dwelling fire, mobile home, condominium unitowners and renters policies.