American Coastal Insurance (NASDAQ:ACIC) Stock Rating Upgraded by Wall Street Zen
by Sarita Garza · The Markets DailyAmerican Coastal Insurance (NASDAQ:ACIC – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
ACIC has been the topic of several other research reports. Oppenheimer initiated 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 upgraded shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, American Coastal Insurance presently has a consensus rating of “Moderate Buy”.
View Our Latest Report on ACIC
American Coastal Insurance Price Performance
American Coastal Insurance stock opened at $11.48 on Tuesday. The stock has a market cap of $558.62 million, a P/E ratio of 5.36, a PEG ratio of 2.47 and a beta of -0.59. American Coastal Insurance has a 1 year low of $9.97 and a 1 year high of $13.06. The firm’s 50 day moving average price is $11.23 and its 200-day moving average price is $11.64.
Institutional Investors Weigh In On American Coastal Insurance
Several large investors have recently bought and sold shares of ACIC. Empowered Funds LLC increased its position 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 purchasing an additional 184,720 shares during the last quarter. Raymond James Financial Inc. increased its position in American Coastal Insurance by 353.2% in the second quarter. Raymond James Financial Inc. now owns 229,123 shares of the company’s stock worth $2,548,000 after purchasing an additional 178,562 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in American Coastal Insurance by 21.4% in the third quarter. Punch & Associates Investment Management Inc. now owns 723,900 shares of the company’s stock worth $8,245,000 after purchasing an additional 127,571 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in American Coastal Insurance in the second quarter worth $1,268,000. Finally, Bridgeway Capital Management LLC bought a new stake in American Coastal Insurance in the third quarter worth $1,255,000. Institutional investors own 22.11% of the company’s stock.
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.