American Coastal Insurance (NASDAQ:ACIC) Rating Lowered to “Hold” at Wall Street Zen

American Coastal Insurance (NASDAQ:ACIC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also weighed in on the stock. Oppenheimer began coverage on shares of American Coastal Insurance in a report on Monday, January 12th. They issued a “market perform” rating on the stock. Weiss Ratings raised shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, American Coastal Insurance has an average rating of “Moderate Buy”.

American Coastal Insurance Trading Up 0.1%

Shares of NASDAQ ACIC opened at $11.31 on Friday. American Coastal Insurance has a 1 year low of $9.97 and a 1 year high of $13.06. The firm’s 50-day moving average is $11.21 and its 200-day moving average is $11.62. The firm has a market capitalization of $550.34 million, a PE ratio of 5.29, a price-to-earnings-growth ratio of 2.55 and a beta of -0.61.

Institutional Trading of American Coastal Insurance

A number of institutional investors and hedge funds have recently modified their holdings of ACIC. Punch & Associates Investment Management Inc. raised its position in shares of American Coastal Insurance by 7.3% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 776,400 shares of the company’s stock valued at $9,806,000 after acquiring an additional 52,500 shares during the period. Dimensional Fund Advisors LP boosted its stake in American Coastal Insurance by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 627,330 shares of the company’s stock worth $7,923,000 after acquiring an additional 75,408 shares during the last quarter. Geode Capital Management LLC grew its holdings in American Coastal Insurance by 0.4% during the second quarter. Geode Capital Management LLC now owns 606,117 shares of the company’s stock valued at $6,741,000 after purchasing an additional 2,269 shares during the period. American Century Companies Inc. increased its stake in American Coastal Insurance by 12.2% in the second quarter. American Century Companies Inc. now owns 548,953 shares of the company’s stock valued at $6,104,000 after purchasing an additional 59,907 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in American Coastal Insurance by 28.1% in the fourth quarter. Renaissance Technologies LLC now owns 454,957 shares of the company’s stock valued at $5,746,000 after purchasing an additional 99,900 shares in the last quarter. 22.11% of the stock is owned by institutional investors.

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.