American Coastal Insurance (NASDAQ:ACIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American Coastal Insurance (NASDAQ:ACIC) from a hold rating to a buy rating in a research note released on Sunday.

ACIC has been the topic of several other reports. Oppenheimer started coverage on American Coastal Insurance in a research report on Monday, January 12th. They issued a “market perform” rating on the stock. Weiss Ratings raised American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

American Coastal Insurance Stock Down 0.5%

Shares of ACIC opened at $11.30 on Friday. American Coastal Insurance has a fifty-two week low of $9.97 and a fifty-two week high of $13.06. The company’s fifty day moving average is $11.20 and its two-hundred day moving average is $11.63. The firm has a market cap of $549.86 million, a PE ratio of 5.28, a price-to-earnings-growth ratio of 2.56 and a beta of -0.61.

Institutional Investors Weigh In On American Coastal Insurance

Several institutional investors have recently bought and sold shares of ACIC. Punch & Associates Investment Management Inc. raised its stake in shares of American Coastal Insurance by 7.3% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 776,400 shares of the company’s stock valued at $9,806,000 after acquiring an additional 52,500 shares during the period. Dimensional Fund Advisors LP boosted its position in American Coastal Insurance by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 627,330 shares of the company’s stock worth $7,923,000 after purchasing an additional 75,408 shares during the period. Geode Capital Management LLC boosted its position in American Coastal Insurance by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 606,117 shares of the company’s stock worth $6,741,000 after purchasing an additional 2,269 shares during the period. American Century Companies Inc. increased its holdings in American Coastal Insurance by 12.2% in the 2nd quarter. American Century Companies Inc. now owns 548,953 shares of the company’s stock valued at $6,104,000 after purchasing an additional 59,907 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in American Coastal Insurance by 28.1% in the 4th quarter. Renaissance Technologies LLC now owns 454,957 shares of the company’s stock valued at $5,746,000 after purchasing an additional 99,900 shares in the last quarter. 22.11% of the stock is currently owned by hedge funds and other institutional investors.

About American Coastal Insurance

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.