American Coastal Insurance Corporation $ACIC Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in American Coastal Insurance Corporation by 29.6%, now owning approximately 0.18% of the company valued at $1,018,000.
• American Coastal Insurance reported $0.54 earnings per share for the last quarter, exceeding analysts' expectations of $0.38.
• Wall Street analysts upgraded American Coastal Insurance from a "hold" rating to a "buy" rating, reflecting positive sentiment for the stock.

Goldman Sachs Group Inc. lowered its stake in American Coastal Insurance Corporation (NASDAQ:ACIC - Free Report) by 29.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,020 shares of the company's stock after selling 37,059 shares during the quarter. Goldman Sachs Group Inc. owned about 0.18% of American Coastal Insurance worth $1,018,000 at the end of the most recent quarter.

Separately, Strs Ohio acquired a new position in American Coastal Insurance during the 1st quarter worth $485,000. Institutional investors own 22.11% of the company's stock.

American Coastal Insurance Price Performance

American Coastal Insurance stock opened at $11.46 on Tuesday. American Coastal Insurance Corporation has a fifty-two week low of $8.82 and a fifty-two week high of $15.08. The firm has a 50-day moving average price of $10.83. The stock has a market cap of $558.79 million, a P/E ratio of 7.03 and a beta of -0.26.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.16. American Coastal Insurance had a return on equity of 30.65% and a net margin of 25.26%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded American Coastal Insurance from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

About American Coastal Insurance

American Coastal Insurance Corporation operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners.

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