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 note issued to investors on Sunday.

Several other equities research analysts also recently weighed in on ACIC. Weiss Ratings upgraded shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Oppenheimer began coverage on American Coastal Insurance in a research report on Monday, January 12th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

American Coastal Insurance Stock Performance

NASDAQ:ACIC opened at $11.06 on Friday. American Coastal Insurance has a fifty-two week low of $9.97 and a fifty-two week high of $13.06. The stock has a market capitalization of $538.18 million, a P/E ratio of 5.17, a P/E/G ratio of 2.49 and a beta of -0.61. The company’s 50-day simple moving average is $11.20 and its 200-day simple moving average is $11.63.

Institutional Investors Weigh In On American Coastal Insurance

A number of large investors have recently bought and sold shares of ACIC. Russell Investments Group Ltd. lifted its stake in 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 valued at $30,000 after acquiring an additional 2,615 shares during the period. Tower Research Capital LLC TRC boosted its holdings 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 acquiring an additional 3,434 shares during the last quarter. State of Wyoming acquired a new stake in shares of American Coastal Insurance in the second quarter worth $59,000. State of Alaska Department of Revenue increased its stake in shares of American Coastal Insurance by 148.5% in the fourth quarter. State of Alaska Department of Revenue now owns 5,168 shares of the company’s stock worth $65,000 after acquiring an additional 3,088 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of American Coastal Insurance during the fourth quarter worth $65,000. Hedge funds and other institutional investors own 22.11% of the company’s stock.

About American Coastal Insurance

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.