American Coastal Insurance (NASDAQ:ACIC) Downgraded by Wall Street Zen to “Hold”

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

Other equities research analysts have also issued reports about the company. Oppenheimer initiated coverage on American Coastal Insurance in a research report on Monday, January 12th. They issued a “market perform” rating for the company. Weiss Ratings upgraded shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

American Coastal Insurance Stock Up 0.1%

ACIC stock opened at $11.31 on Friday. American Coastal Insurance has a twelve month low of $9.97 and a twelve month high of $13.06. The stock’s 50 day moving average is $11.21 and its 200-day moving average is $11.61. The firm has a market capitalization of $550.34 million, a PE ratio of 5.29, a P/E/G ratio of 2.55 and a beta of -0.61.

Institutional Trading of American Coastal Insurance

A number of hedge funds have recently bought and sold shares of ACIC. Invesco Ltd. boosted its position in American Coastal Insurance by 38.6% in the fourth quarter. Invesco Ltd. now owns 27,776 shares of the company’s stock worth $351,000 after purchasing an additional 7,730 shares during the last quarter. Empowered Funds LLC increased its position 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 valued at $3,206,000 after purchasing an additional 184,720 shares during the last quarter. XTX Topco Ltd raised 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 during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of American Coastal Insurance during the 4th quarter worth $161,000. Finally, Engineers Gate Manager LP purchased a new position in shares of American Coastal Insurance in the 4th quarter worth about $133,000. 22.11% of the stock is currently owned by institutional investors.

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.