American Coastal Insurance (NASDAQ:ACIC) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded American Coastal Insurance (NASDAQ:ACIC) from "hold" to "Buy," and Weiss Ratings also raised its rating to Buy while Oppenheimer initiated coverage at "market perform," leaving the consensus at a "Moderate Buy."
• ACIC trades near $11 (opened $11.06) with a market cap of about $538 million and a P/E of 5.17; its 52‑week range is $9.97–$13.06 and institutional ownership is roughly 22% after several small recent inflows.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday.

Other equities analysts have also issued research reports about the company. Weiss Ratings raised American Coastal Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 4th. Oppenheimer started coverage on American Coastal Insurance in a research note on Monday, January 12th. They issued a "market perform" rating for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".

American Coastal Insurance Price Performance

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 2.49 and a beta of -0.61. American Coastal Insurance has a one year low of $9.97 and a one year high of $13.06. The stock's 50 day simple moving average is $11.20 and its 200 day simple moving average is $11.63.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACIC. Russell Investments Group Ltd. lifted its holdings in American Coastal Insurance by 4,508.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company's stock worth $30,000 after buying an additional 2,615 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of American Coastal Insurance by 273.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company's stock valued at $52,000 after buying an additional 3,434 shares during the period. State of Wyoming acquired a new stake in shares of American Coastal Insurance in the 2nd quarter valued at $59,000. State of Alaska Department of Revenue raised its position in shares of American Coastal Insurance by 148.5% during the fourth quarter. State of Alaska Department of Revenue now owns 5,168 shares of the company's stock worth $65,000 after acquiring an additional 3,088 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of American Coastal Insurance during the fourth quarter valued at $65,000. Institutional investors own 22.11% of the company's stock.

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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