American Coastal Insurance (NASDAQ:ACIC) Stock Rating Upgraded by Zacks Research

American Coastal Insurance (NASDAQ:ACIC) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also commented on the stock. Wall Street Zen lowered shares of American Coastal Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of American Coastal Insurance from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

American Coastal Insurance Price Performance

Shares of NASDAQ ACIC opened at $11.03 on Monday. The stock has a market capitalization of $534.51 million, a price-to-earnings ratio of 5.25, a PEG ratio of 3.79 and a beta of -0.47. The firm’s 50 day simple moving average is $10.68 and its 200-day simple moving average is $11.05. American Coastal Insurance has a 12 month low of $9.77 and a 12 month high of $13.06.

American Coastal Insurance (NASDAQ:ACIC) last posted its earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). American Coastal Insurance had a net margin of 31.32% and a return on equity of 32.26%. The firm had revenue of $71.22 million during the quarter, compared to analyst estimates of $75.78 million. Analysts anticipate that American Coastal Insurance will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On American Coastal Insurance

Institutional investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its stake in American Coastal Insurance by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 93,505 shares of the company’s stock worth $1,038,000 after buying an additional 9,729 shares in the last quarter. Tactive Advisors LLC lifted its position in shares of American Coastal Insurance by 147.6% in the second quarter. Tactive Advisors LLC now owns 55,015 shares of the company’s stock valued at $611,000 after acquiring an additional 32,795 shares in the last quarter. Militia Capital Management LLC purchased a new position in shares of American Coastal Insurance in the first quarter valued at approximately $2,257,000. Bank of America Corp DE boosted its stake in shares of American Coastal Insurance by 164.8% in the first quarter. Bank of America Corp DE now owns 71,922 shares of the company’s stock worth $809,000 after acquiring an additional 44,757 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of American Coastal Insurance by 290.7% in the first quarter. Royal Bank of Canada now owns 2,270 shares of the company’s stock worth $25,000 after acquiring an additional 1,689 shares during the last quarter. 22.11% of the stock is currently owned by institutional investors and hedge funds.

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.