M Holdings Securities Inc. Buys 83,186 Shares of American Coastal Insurance Corporation $ACIC

M Holdings Securities Inc. purchased a new position in shares of American Coastal Insurance Corporation (NASDAQ:ACIC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 83,186 shares of the company’s stock, valued at approximately $752,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of American Coastal Insurance in the 2nd quarter valued at about $25,309,000. Tieton Capital Management LLC purchased a new stake in American Coastal Insurance during the second quarter worth about $13,929,000. Empyrean Capital Partners LP boosted its holdings in American Coastal Insurance by 19.8% during the first quarter. Empyrean Capital Partners LP now owns 1,126,987 shares of the company’s stock worth $12,679,000 after buying an additional 186,487 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in American Coastal Insurance by 4.2% during the first quarter. Punch & Associates Investment Management Inc. now owns 808,705 shares of the company’s stock worth $9,098,000 after buying an additional 32,305 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in American Coastal Insurance by 19.6% during the first quarter. Dimensional Fund Advisors LP now owns 750,108 shares of the company’s stock worth $8,439,000 after buying an additional 122,778 shares during the period. 22.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ACIC. Weiss Ratings lowered shares of American Coastal Insurance from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Zacks Research upgraded shares of American Coastal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 14th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $13.00 price target on shares of American Coastal Insurance in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, American Coastal Insurance has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Insider Activity

In other American Coastal Insurance news, CEO Bennett Bradford Martz bought 10,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average cost of $9.15 per share, for a total transaction of $91,500.00. Following the acquisition, the chief executive officer owned 444,611 shares of the company’s stock, valued at $4,068,190.65. The trade was a 2.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brooke Adler sold 21,196 shares of American Coastal Insurance stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $9.06, for a total transaction of $192,035.76. Following the transaction, the insider owned 100,175 shares of the company’s stock, valued at approximately $907,585.50. The trade was a 17.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 49.20% of the stock is owned by insiders.

American Coastal Insurance Stock Performance

ACIC opened at $10.26 on Wednesday. The company has a market cap of $485.20 million, a price-to-earnings ratio of 6.07 and a beta of -0.55. American Coastal Insurance Corporation has a one year low of $9.01 and a one year high of $13.06. The business’s fifty day moving average is $9.96 and its two-hundred day moving average is $10.64.

American Coastal Insurance (NASDAQ:ACIC) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). American Coastal Insurance had a net margin of 28.02% and a return on equity of 24.36%. The firm had revenue of $70.70 million during the quarter. On average, analysts predict that American Coastal Insurance Corporation will post 1.26 EPS for the current fiscal year.

American Coastal Insurance Company Profile

American Coastal Insurance Corporation is a property and casualty insurance holding company based in Florida. Through its insurance subsidiaries, the company provides coverage for catastrophe-exposed residential properties, with a particular emphasis on commercial residential insurance such as condominium and homeowners’ association properties. The company’s principal operating subsidiary is American Coastal Insurance Company, which focuses on property insurance in Florida and other coastal markets where specialized underwriting and catastrophe-risk management are important.