American Coastal Insurance (NASDAQ:ACIC) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of American Coastal Insurance (NASDAQ:ACIC) in a research note published on Monday morning, Marketbeat.com reports. The firm issued a market perform rating on the stock.

Several other equities analysts also recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of American Coastal Insurance in a research note on Monday, December 29th. Wall Street Zen raised shares of American Coastal Insurance from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. One equities 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, the company presently has a consensus rating of “Moderate Buy”.

American Coastal Insurance Trading Down 0.4%

American Coastal Insurance stock opened at $11.27 on Monday. The company has a market capitalization of $549.53 million, a price-to-earnings ratio of 6.59 and a beta of -0.55. American Coastal Insurance has a 12 month low of $9.97 and a 12 month high of $13.50. The stock’s 50 day moving average is $12.11 and its 200-day moving average is $11.48.

American Coastal Insurance (NASDAQ:ACIC) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter. The business had revenue of $0.09 million during the quarter. American Coastal Insurance had a return on equity of 30.06% and a net margin of 25.95%.

American Coastal Insurance Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, January 9th. Investors of record on Friday, January 2nd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 2nd.

Hedge Funds Weigh In On American Coastal Insurance

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in shares of 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 acquiring an additional 2,615 shares during the period. Tower Research Capital LLC TRC increased its stake in American Coastal Insurance by 273.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company’s stock valued at $52,000 after acquiring an additional 3,434 shares during the last quarter. State of Wyoming acquired a new position in American Coastal Insurance during the second quarter valued at approximately $59,000. Quarry LP lifted its stake in American Coastal Insurance by 583.3% during the third quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $68,000 after purchasing an additional 5,092 shares during the last quarter. Finally, Tactive Advisors LLC bought a new stake in American Coastal Insurance during the second quarter worth $120,000. 22.11% of the stock is owned by 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.