Kern Michael Davis Acquires 1,400 Shares of American Coastal Insurance (NASDAQ:ACIC) Stock

American Coastal Insurance Corporation (NASDAQ:ACIC) Director Kern Michael Davis bought 1,400 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average cost of $11.71 per share, for a total transaction of $16,394.00. Following the completion of the transaction, the director owned 4,126 shares in the company, valued at $48,315.46. This represents a 51.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kern Michael Davis also recently made the following trade(s):

• On Wednesday, March 18th, Kern Michael Davis purchased 400 shares of American Coastal Insurance stock. The shares were bought at an average cost of $11.24 per share, with a total value of $4,496.00.

American Coastal Insurance Trading Down 1.9%

Shares of NASDAQ:ACIC opened at $11.06 on Friday. The firm has a market cap of $538.18 million, a PE ratio of 5.17, a price-to-earnings-growth ratio of 2.54 and a beta of -0.61. The company has a fifty day simple moving average of $11.20 and a 200 day simple moving average of $11.62. American Coastal Insurance Corporation has a 12-month low of $9.97 and a 12-month high of $13.06.

Institutional Investors Weigh In On American Coastal Insurance

A number of institutional investors have recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in American Coastal Insurance by 216.9% in the fourth quarter. Empowered Funds LLC now owns 269,899 shares of the company’s stock worth $3,206,000 after acquiring an additional 184,720 shares during the last quarter. Raymond James Financial Inc. boosted its position in American Coastal Insurance by 353.2% during the 2nd quarter. Raymond James Financial Inc. now owns 229,123 shares of the company’s stock valued at $2,548,000 after purchasing an additional 178,562 shares during the period. Punch & Associates Investment Management Inc. grew its stake in American Coastal Insurance by 21.4% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 723,900 shares of the company’s stock worth $8,245,000 after buying an additional 127,571 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of American Coastal Insurance in the 2nd quarter worth about $1,268,000. Finally, Bridgeway Capital Management LLC acquired a new position in American Coastal Insurance during the 3rd quarter valued at about $1,255,000. Institutional investors own 22.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Oppenheimer started coverage on shares of American Coastal Insurance in a research report on Monday, January 12th. They set 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 report on Wednesday, February 4th. Finally, Wall Street Zen downgraded American Coastal Insurance from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.