American Coastal Insurance (NASDAQ:ACIC) Insider Brooke Adler Sells 21,196 Shares of Stock

American Coastal Insurance Corporation (NASDAQ:ACIC) insider Brooke Adler sold 21,196 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $9.06, for a total transaction of $192,035.76. Following the sale, the insider owned 100,175 shares of the company’s stock, valued at approximately $907,585.50. This represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

American Coastal Insurance Stock Up 3.6%

Shares of American Coastal Insurance stock opened at $9.40 on Friday. The company has a 50-day simple moving average of $9.74 and a two-hundred day simple moving average of $10.60. The stock has a market capitalization of $444.34 million, a PE ratio of 4.68 and a beta of -0.46. American Coastal Insurance Corporation has a 52-week low of $9.03 and a 52-week high of $13.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.88 and a current ratio of 0.88.

American Coastal Insurance (NASDAQ:ACIC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). The firm had revenue of $82.60 million for the quarter. American Coastal Insurance had a net margin of 30.31% and a return on equity of 27.95%. On average, analysts anticipate that American Coastal Insurance Corporation will post 0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in American Coastal Insurance in the 2nd quarter worth approximately $25,309,000. Empyrean Capital Partners LP lifted its holdings in shares of American Coastal Insurance by 19.8% during the 1st quarter. Empyrean Capital Partners LP now owns 1,126,987 shares of the company’s stock valued at $12,679,000 after buying an additional 186,487 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of American Coastal Insurance by 19.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 750,108 shares of the company’s stock valued at $8,439,000 after buying an additional 122,778 shares during the period. Range Financial Group LLC purchased a new position in shares of American Coastal Insurance in the 1st quarter worth $1,051,000. Finally, Militia Capital Management LLC purchased a new position in shares of American Coastal Insurance in the 1st quarter worth $2,257,000. Institutional investors own 22.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Raymond James Financial reissued an “outperform” rating and issued a $13.00 target price on shares of American Coastal Insurance in a report on Tuesday, August 11th. Zacks Research raised American Coastal Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Weiss Ratings cut American Coastal Insurance from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Coastal Insurance presently has a consensus rating of “Hold” and a consensus target price of $13.00.

American Coastal Insurance Company Profile

American Coastal Insurance Corporation (NASDAQ: ACIC) is a specialty property and casualty insurance holding company focused primarily on the commercial residential market. Through its insurance operations, the company provides coverage designed for properties such as condominium associations, apartment communities and other residential developments.

The company’s offerings generally center on commercial property insurance, including protection against damage from severe weather and other covered risks.