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

Wall Street Zen downgraded shares of American Coastal Insurance (NASDAQ:ACIC) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Coastal Insurance in a research note on Monday, December 29th. Oppenheimer initiated coverage on American Coastal Insurance in a report on Monday, January 12th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

American Coastal Insurance Price Performance

Shares of NASDAQ ACIC opened at $11.07 on Friday. American Coastal Insurance has a 1 year low of $9.97 and a 1 year high of $13.50. The firm has a 50-day moving average of $12.03 and a 200 day moving average of $11.48. The stock has a market cap of $539.83 million, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 2.50 and a beta of -0.55.

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

American Coastal Insurance Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, January 2nd were paid a $0.75 dividend. The ex-dividend date was Friday, January 2nd. American Coastal Insurance’s payout ratio is currently 29.24%.

Institutional Investors Weigh In On American Coastal Insurance

Several large investors have recently bought and sold shares of ACIC. Russell Investments Group Ltd. lifted 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 period. Tower Research Capital LLC TRC grew its stake in shares of American Coastal Insurance by 273.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company’s stock worth $52,000 after acquiring an additional 3,434 shares during the period. State of Wyoming purchased a new position in shares of American Coastal Insurance during the second quarter valued at approximately $59,000. Quarry LP lifted its position in American Coastal Insurance by 583.3% during the third quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $68,000 after purchasing an additional 5,092 shares during the period. Finally, Tactive Advisors LLC bought a new position in American Coastal Insurance during the second quarter valued at approximately $120,000. 22.11% of the stock is currently owned by 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.