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

American Coastal Insurance (NASDAQ:ACIC) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other brokerages have also recently issued reports on ACIC. Weiss Ratings raised shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Oppenheimer began coverage on shares of American Coastal Insurance in a report 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

American Coastal Insurance Trading Up 1.3%

Shares of American Coastal Insurance stock opened at $11.11 on Tuesday. American Coastal Insurance has a 12-month low of $9.97 and a 12-month high of $13.06. The stock has a market cap of $540.61 million, a PE ratio of 5.19, a price-to-earnings-growth ratio of 2.47 and a beta of -0.59. The company has a 50-day moving average of $11.21 and a two-hundred day moving average of $11.64.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of American Coastal Insurance by 38.6% during the 4th quarter. Invesco Ltd. now owns 27,776 shares of the company’s stock worth $351,000 after purchasing an additional 7,730 shares in the last quarter. Empowered Funds LLC increased its stake in shares of American Coastal Insurance by 216.9% during the 4th quarter. Empowered Funds LLC now owns 269,899 shares of the company’s stock worth $3,206,000 after purchasing an additional 184,720 shares in the last quarter. XTX Topco Ltd increased its stake in shares of American Coastal Insurance by 19.1% during the 4th quarter. XTX Topco Ltd now owns 14,338 shares of the company’s stock worth $181,000 after purchasing an additional 2,296 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of American Coastal Insurance during the 4th quarter worth approximately $161,000. Finally, Engineers Gate Manager LP purchased a new stake in American Coastal Insurance in the 4th quarter worth approximately $133,000. 22.11% of the stock is owned by hedge funds and other 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.