American Coastal Insurance (NASDAQ:ACIC) Cut to “Hold” at 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 issued on Saturday morning.

A number of other equities research analysts also recently commented on ACIC. Weiss Ratings reissued a “buy (b-)” rating on shares of American Coastal Insurance in a report on Monday, December 29th. Oppenheimer started coverage on American Coastal Insurance in a report on Monday, January 12th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

American Coastal Insurance Trading Down 1.6%

American Coastal Insurance stock opened at $11.07 on Friday. The firm has a market capitalization of $539.77 million, a P/E ratio of 6.47, a P/E/G ratio of 2.50 and a beta of -0.55. The stock’s fifty day simple moving average is $12.01 and its 200-day simple moving average is $11.49. American Coastal Insurance has a twelve month low of $9.97 and a twelve month high of $13.50.

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

American Coastal Insurance Announces Dividend

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

Institutional Investors Weigh In On American Coastal Insurance

Several large investors have recently made changes to their positions in ACIC. Russell Investments Group Ltd. boosted 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 last quarter. Tower Research Capital LLC TRC raised its stake 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 purchasing an additional 3,434 shares in the last quarter. State of Wyoming acquired a new position in American Coastal Insurance in the second quarter worth about $59,000. Quarry LP increased its holdings in American Coastal Insurance by 583.3% in the third quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $68,000 after buying an additional 5,092 shares during the last quarter. Finally, Tactive Advisors LLC acquired a new stake in American Coastal Insurance during the second quarter valued at approximately $120,000. Institutional investors and hedge funds 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.