American Coastal Insurance (NASDAQ:ACIC) Rating Lowered to Hold at Wall Street Zen

American Coastal Insurance (NASDAQ:ACIC) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Monday.

A number of other equities analysts have also commented on the company. Oppenheimer began coverage on American Coastal Insurance in a research note on Monday, January 12th. They issued 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 research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Coastal Insurance has an average rating of “Moderate Buy”.

American Coastal Insurance Price Performance

NASDAQ ACIC opened at $11.13 on Monday. The company has a market cap of $541.54 million, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 2.51 and a beta of -0.61. American Coastal Insurance has a twelve month low of $9.97 and a twelve month high of $13.06. The business’s fifty day moving average is $11.21 and its 200 day moving average is $11.63.

Hedge Funds Weigh In On American Coastal Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in ACIC. Punch & Associates Investment Management Inc. grew its stake in shares of American Coastal Insurance by 7.3% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 776,400 shares of the company’s stock valued at $9,806,000 after buying an additional 52,500 shares during the period. Dimensional Fund Advisors LP grew its stake in American Coastal Insurance by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 627,330 shares of the company’s stock valued at $7,923,000 after acquiring an additional 75,408 shares during the period. Geode Capital Management LLC increased its holdings in shares of American Coastal Insurance by 0.4% during the second quarter. Geode Capital Management LLC now owns 606,117 shares of the company’s stock valued at $6,741,000 after acquiring an additional 2,269 shares in the last quarter. American Century Companies Inc. raised its position in shares of American Coastal Insurance by 12.2% during the second quarter. American Century Companies Inc. now owns 548,953 shares of the company’s stock worth $6,104,000 after purchasing an additional 59,907 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of American Coastal Insurance by 28.1% in the 4th quarter. Renaissance Technologies LLC now owns 454,957 shares of the company’s stock worth $5,746,000 after purchasing an additional 99,900 shares in the last quarter. 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.