Strs Ohio Takes $485,000 Position in American Coastal Insurance Corporation $ACIC

Key Points

• Strs Ohio acquired a new position in American Coastal Insurance Corporation (NASDAQ: ACIC) by buying 41,900 shares worth approximately $485,000, representing about 0.09% of the company.
• American Coastal Insurance recently reported earnings of $0.54 per share, exceeding expectations of $0.38, and has a return on equity of 30.65%.
• Wall Street Zen upgraded American Coastal Insurance from a "hold" to a "buy" rating on August 9th, reflecting positive analyst sentiment.

Strs Ohio bought a new position in American Coastal Insurance Corporation (NASDAQ:ACIC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 41,900 shares of the company's stock, valued at approximately $485,000. Strs Ohio owned 0.09% of American Coastal Insurance as of its most recent filing with the SEC.

American Coastal Insurance Stock Performance

American Coastal Insurance stock traded up $0.26 during midday trading on Monday, reaching $11.46. The stock had a trading volume of 188,558 shares, compared to its average volume of 171,674. American Coastal Insurance Corporation has a 52-week low of $8.82 and a 52-week high of $15.08. The company has a market capitalization of $558.79 million, a price-to-earnings ratio of 6.91 and a beta of -0.26. The stock has a fifty day simple moving average of $10.83.

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of 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.