American Coastal Insurance (NASDAQ:ACIC) Announces Quarterly Earnings Results

American Coastal Insurance (NASDAQ:ACIC) posted its quarterly earnings data on Tuesday. The company reported $0.39 earnings per share for the quarter, FiscalAI reports. American Coastal Insurance had a return on equity of 34.62% and a net margin of 31.85%.

American Coastal Insurance Price Performance

NASDAQ:ACIC traded up $0.22 during mid-day trading on Tuesday, hitting $11.87. 133,776 shares of the company’s stock were exchanged, compared to its average volume of 215,346. The company has a market cap of $577.55 million, a PE ratio of 5.55, a P/E/G ratio of 2.66 and a beta of -0.46. American Coastal Insurance has a one year low of $9.97 and a one year high of $13.06. The business has a fifty day moving average price of $11.46 and a 200 day moving average price of $11.66.

Institutional Trading of American Coastal Insurance

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in 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 buying an additional 184,720 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in American Coastal Insurance by 353.2% in the second quarter. Raymond James Financial Inc. now owns 229,123 shares of the company’s stock worth $2,548,000 after acquiring an additional 178,562 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in American Coastal Insurance by 21.4% in the third quarter. Punch & Associates Investment Management Inc. now owns 723,900 shares of the company’s stock worth $8,245,000 after acquiring an additional 127,571 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of American Coastal Insurance in the second quarter worth $1,268,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of American Coastal Insurance in the third quarter worth $1,255,000. 22.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings upgraded American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. Oppenheimer assumed coverage on American Coastal Insurance in a research report on Monday, January 12th. They set a “market perform” rating on the stock. Finally, Wall Street Zen upgraded American Coastal Insurance from a “hold” rating to a “buy” rating in a report on Tuesday, April 7th. 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 stock has a consensus rating of “Moderate Buy”.

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.