American Coastal Insurance (NASDAQ:ACIC) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded American Coastal Insurance (NASDAQ:ACIC) from a "buy" to a "hold" rating, while other firms show mixed views—Oppenheimer started coverage at "market perform" and Weiss Ratings upgraded to "buy," leaving a MarketBeat consensus of "Moderate Buy."
• ACIC shares opened at $11.13 with a 12‑month range of $9.97–$13.06 and a market capitalization of about $541.5 million; the stock currently shows a low PE ratio of 5.20 and a PEG of 2.51.
• American Coastal is a specialized property & casualty insurer focused on coastal residential and commercial lines in the Southeastern U.S. and has about 22.11% institutional ownership, with recent large stake increases by Empowered Funds and Raymond James.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Monday.

Several other research firms also recently issued reports on ACIC. Oppenheimer started coverage on American Coastal Insurance in a research note on Monday, January 12th. They issued a "market perform" rating for the company. Weiss Ratings raised American Coastal Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, American Coastal Insurance currently has a consensus rating of "Moderate Buy".

American Coastal Insurance Price Performance

Shares of ACIC stock opened at $11.13 on Monday. American Coastal Insurance has a 12-month low of $9.97 and a 12-month high of $13.06. The company has a market capitalization of $541.54 million, a PE ratio of 5.20, a price-to-earnings-growth ratio of 2.51 and a beta of -0.61. The firm has a 50 day moving average price of $11.21 and a two-hundred day moving average price of $11.63.

Institutional Investors Weigh In On American Coastal Insurance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its stake in shares of American Coastal Insurance by 216.9% in the 4th quarter. Empowered Funds LLC now owns 269,899 shares of the company's stock valued at $3,206,000 after purchasing an additional 184,720 shares during the last quarter. Raymond James Financial Inc. boosted its stake 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 valued at $2,548,000 after buying an additional 178,562 shares in the last quarter. Punch & Associates Investment Management Inc. grew 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 valued at $8,245,000 after acquiring an additional 127,571 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in American Coastal Insurance during the second quarter worth about $1,268,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of American Coastal Insurance in the third quarter worth about $1,255,000. 22.11% of the stock is currently owned by 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.

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