American Coastal Insurance (NASDAQ:ACIC) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of American Coastal Insurance (NASDAQ:ACIC) from a hold rating to a buy rating in a report released on Tuesday morning.

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings upgraded shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. Oppenheimer initiated coverage on shares of American Coastal Insurance in a research report on Monday, January 12th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

American Coastal Insurance Stock Up 1.4%

ACIC stock opened at $11.26 on Tuesday. American Coastal Insurance has a twelve month low of $9.97 and a twelve month high of $13.06. The stock has a market capitalization of $547.87 million, a price-to-earnings ratio of 5.26, a price-to-earnings-growth ratio of 2.47 and a beta of -0.59. The firm’s fifty day simple moving average is $11.22 and its two-hundred day simple moving average is $11.64.

Institutional Trading of American Coastal Insurance

A number of large investors have recently made changes to their positions in the stock. Allegheny Financial Group boosted its stake in shares of American Coastal Insurance by 6.3% during 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. boosted its stake in shares of American Coastal Insurance by 7.2% during the fourth quarter. Osaic Holdings Inc. now owns 17,917 shares of the company’s stock valued at $226,000 after purchasing an additional 1,202 shares during the period. Martingale Asset Management L P boosted its stake in shares of American Coastal Insurance by 3.1% during the fourth quarter. Martingale Asset Management L P now owns 48,921 shares of the company’s stock valued at $618,000 after purchasing an additional 1,490 shares during the period. Invesco Ltd. boosted its stake in shares of American Coastal Insurance by 9.7% during the second quarter. Invesco Ltd. now owns 19,674 shares of the company’s stock valued at $219,000 after purchasing an additional 1,736 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of American Coastal Insurance by 2.5% during the fourth quarter. First Trust Advisors LP now owns 78,625 shares of the company’s stock valued at $993,000 after purchasing an additional 1,906 shares during the period. 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.