Punch & Associates Investment Management Inc. Purchases 52,500 Shares of American Coastal Insurance Corporation $ACIC

Punch & Associates Investment Management Inc. boosted its position in American Coastal Insurance Corporation (NASDAQ:ACIC) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 776,400 shares of the company’s stock after purchasing an additional 52,500 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 1.59% of American Coastal Insurance worth $9,806,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ACIC. Russell Investments Group Ltd. raised its holdings in American Coastal Insurance by 4,508.6% in the second quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company’s stock worth $30,000 after purchasing an additional 2,615 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of 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 worth $52,000 after acquiring an additional 3,434 shares during the last quarter. State of Wyoming purchased a new stake in shares of American Coastal Insurance in the second quarter worth $59,000. State of Alaska Department of Revenue grew its stake in shares of American Coastal Insurance by 148.5% in the fourth quarter. State of Alaska Department of Revenue now owns 5,168 shares of the company’s stock worth $65,000 after acquiring an additional 3,088 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of American Coastal Insurance in the fourth quarter worth $65,000. Institutional investors own 22.11% of the company’s stock.

American Coastal Insurance Price Performance

American Coastal Insurance stock opened at $10.56 on Wednesday. American Coastal Insurance Corporation has a one year low of $9.80 and a one year high of $13.06. The stock has a market capitalization of $511.78 million, a PE ratio of 5.03, a price-to-earnings-growth ratio of 3.62 and a beta of -0.51. The business’s fifty day moving average is $11.03 and its 200 day moving average is $11.38.

American Coastal Insurance (NASDAQ:ACIC) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.05). American Coastal Insurance had a net margin of 31.32% and a return on equity of 32.26%. The business had revenue of $71.22 million for the quarter, compared to analysts’ expectations of $75.78 million. As a group, sell-side analysts expect that American Coastal Insurance Corporation will post 0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACIC has been the topic of a number of recent research reports. Zacks Research cut American Coastal Insurance from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 21st. Wall Street Zen cut American Coastal Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, American Coastal Insurance has a consensus rating of “Hold”.

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.