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

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

Several other equities analysts have also issued reports on ACIC. Weiss Ratings raised American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Oppenheimer began coverage on American Coastal Insurance in a report on Monday, January 12th. They set a “market perform” rating on the stock. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

American Coastal Insurance Trading Up 1.3%

Shares of ACIC stock opened at $11.11 on Tuesday. The firm has a fifty day moving average price of $11.21 and a 200 day moving average price of $11.64. The company has a market cap of $540.61 million, a P/E ratio of 5.19, a PEG ratio of 2.47 and a beta of -0.59. American Coastal Insurance has a 12 month low of $9.97 and a 12 month high of $13.06.

Institutional Investors Weigh In On American Coastal Insurance

Several hedge funds have recently made changes to their positions in the business. Allegheny Financial Group lifted its position in American Coastal Insurance by 6.3% in the fourth quarter. Allegheny Financial Group now owns 19,166 shares of the company’s stock valued at $242,000 after purchasing an additional 1,137 shares during the period. Osaic Holdings Inc. increased its holdings in American Coastal Insurance by 7.2% in the fourth quarter. Osaic Holdings Inc. now owns 17,917 shares of the company’s stock valued at $226,000 after buying an additional 1,202 shares in the last quarter. Martingale Asset Management L P increased its holdings in American Coastal Insurance by 3.1% in the fourth quarter. Martingale Asset Management L P now owns 48,921 shares of the company’s stock valued at $618,000 after buying an additional 1,490 shares in the last quarter. Invesco Ltd. increased its holdings in American Coastal Insurance by 9.7% in the second quarter. Invesco Ltd. now owns 19,674 shares of the company’s stock valued at $219,000 after buying an additional 1,736 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in American Coastal Insurance by 2.5% in the fourth quarter. First Trust Advisors LP now owns 78,625 shares of the company’s stock valued at $993,000 after buying an additional 1,906 shares in the last quarter. Institutional investors and hedge funds own 22.11% of the company’s stock.

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.