American Coastal Insurance (NASDAQ:ACIC) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of American Coastal Insurance (NASDAQ:ACIC) from a buy rating to a hold rating in a report published on Saturday.

ACIC has been the topic of a number of other reports. Oppenheimer assumed coverage on shares of American Coastal Insurance in a research report on Monday, January 12th. They set a “market perform” rating on the stock. Weiss Ratings upgraded shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

American Coastal Insurance Trading Down 2.9%

ACIC opened at $10.53 on Friday. The firm has a market capitalization of $512.39 million, a PE ratio of 5.01, a PEG ratio of 2.50 and a beta of -0.46. American Coastal Insurance has a twelve month low of $9.80 and a twelve month high of $13.06. The firm’s 50-day moving average price is $11.47 and its 200 day moving average price is $11.64.

American Coastal Insurance (NASDAQ:ACIC) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). The business had revenue of $71.22 million for the quarter, compared to analyst estimates of $75.78 million. American Coastal Insurance had a return on equity of 32.26% and a net margin of 31.32%. As a group, analysts predict that American Coastal Insurance will post 1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On American Coastal Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allegheny Financial Group raised its stake in shares of American Coastal Insurance by 6.3% in the 4th quarter. Allegheny Financial Group now owns 19,166 shares of the company’s stock valued at $242,000 after acquiring an additional 1,137 shares during the period. Osaic Holdings Inc. raised its stake in shares of American Coastal Insurance by 7.2% in the 4th quarter. Osaic Holdings Inc. now owns 17,917 shares of the company’s stock valued at $226,000 after acquiring an additional 1,202 shares during the period. Martingale Asset Management L P raised its stake in shares of American Coastal Insurance by 3.1% in the 4th quarter. Martingale Asset Management L P now owns 48,921 shares of the company’s stock valued at $618,000 after acquiring an additional 1,490 shares during the period. Invesco Ltd. raised its stake in shares of American Coastal Insurance by 9.7% in the 2nd quarter. Invesco Ltd. now owns 19,674 shares of the company’s stock valued at $219,000 after acquiring an additional 1,736 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of American Coastal Insurance by 2.5% in the 4th quarter. First Trust Advisors LP now owns 78,625 shares of the company’s stock valued at $993,000 after acquiring an additional 1,906 shares during the period. 22.11% of the stock is owned by hedge funds and other 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.