American Coastal Insurance Corporation (NASDAQ:ACIC) Announces $0.75 Dividend

American Coastal Insurance Corporation (NASDAQ:ACIC) declared a dividend on Monday, December 1st, NASDAQ Dividends reports. Stockholders of record on Friday, January 2nd will be given a dividend of 0.75 per share on Friday, January 9th. The ex-dividend date of this dividend is Friday, January 2nd.

American Coastal Insurance has decreased its dividend by an average of 1.0%per year over the last three years. American Coastal Insurance has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings.

American Coastal Insurance Price Performance

Shares of NASDAQ ACIC traded up $0.03 during trading on Wednesday, reaching $12.59. 49,977 shares of the stock traded hands, compared to its average volume of 181,828. The stock has a market capitalization of $613.95 million, a P/E ratio of 7.36 and a beta of -0.49. The company has a 50-day moving average of $12.14 and a 200-day moving average of $11.40. American Coastal Insurance has a 52-week low of $9.97 and a 52-week high of $13.64.

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

Analyst Upgrades and Downgrades

ACIC has been the topic of several recent research reports. Wall Street Zen raised shares of American Coastal Insurance from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of American Coastal Insurance in a research note on Monday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.