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

Wall Street Zen cut shares of American Coastal Insurance (NASDAQ:ACIC) from a buy rating to a hold rating in a research note published on Saturday morning.

ACIC has been the subject of a number of other reports. Oppenheimer assumed coverage on American Coastal Insurance in a report on Monday, January 12th. They issued a “market perform” rating for the company. Weiss Ratings raised shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, American Coastal Insurance has an average rating of “Moderate Buy”.

American Coastal Insurance Stock Performance

ACIC opened at $11.31 on Friday. American Coastal Insurance has a one year low of $9.97 and a one year high of $13.06. The company has a market cap of $550.34 million, a P/E ratio of 5.29, a PEG ratio of 2.55 and a beta of -0.61. The business’s 50-day simple moving average is $11.21 and its 200-day simple moving average is $11.62.

Institutional Trading of American Coastal Insurance

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of American Coastal Insurance by 4,508.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company’s stock valued at $30,000 after purchasing an additional 2,615 shares during the period. Tower Research Capital LLC TRC increased its position in American Coastal Insurance by 273.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company’s stock worth $52,000 after buying an additional 3,434 shares during the period. State of Wyoming acquired a new position in American Coastal Insurance during the second quarter worth approximately $59,000. State of Alaska Department of Revenue lifted its stake in American Coastal Insurance by 148.5% in the fourth quarter. State of Alaska Department of Revenue now owns 5,168 shares of the company’s stock valued at $65,000 after buying an additional 3,088 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in American Coastal Insurance in the fourth quarter valued at approximately $65,000. 22.11% of the stock is owned by hedge funds and other 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.