Key Points
- Director Kern Michael Davis bought 1,400 shares on March 4 at an average price of $11.71 (total $16,394), increasing his stake to 4,126 shares — a 51.36% rise in ownership, disclosed in an SEC filing.
- Shares traded down about 1.1% to $11.15 with a market cap of ~$542.3M, a P/E of 5.21, and a 52‑week range of $9.97–$13.06 (50-/200-day moving averages $11.21/$11.63).
- Institutions have been increasing positions (notably Punch & Associates, Dimensional, Renaissance) and own 22.11% of the stock, while analyst coverage is mixed with a consensus rating of Moderate Buy.
American Coastal Insurance Corporation (NASDAQ:ACIC - Get Free Report) Director Kern Michael Davis bought 1,400 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were bought at an average price of $11.71 per share, for a total transaction of $16,394.00. Following the transaction, the director owned 4,126 shares of the company's stock, valued at approximately $48,315.46. This represents a 51.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
American Coastal Insurance Trading Down 1.1%
Shares of NASDAQ ACIC traded down $0.13 during mid-day trading on Thursday, hitting $11.15. The company had a trading volume of 5,372 shares, compared to its average volume of 252,346. The company has a market capitalization of $542.32 million, a price-to-earnings ratio of 5.21, a P/E/G ratio of 2.57 and a beta of -0.61. American Coastal Insurance Corporation has a 1 year low of $9.97 and a 1 year high of $13.06. The stock's 50-day moving average price is $11.21 and its 200-day moving average price is $11.63.
Institutional Trading of American Coastal Insurance
Institutional investors and hedge funds have recently modified their holdings of the business. Punch & Associates Investment Management Inc. boosted its position in shares of American Coastal Insurance by 7.3% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 776,400 shares of the company's stock valued at $9,806,000 after acquiring an additional 52,500 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of American Coastal Insurance by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 627,330 shares of the company's stock worth $7,923,000 after purchasing an additional 75,408 shares during the last quarter. Geode Capital Management LLC raised its stake in American Coastal Insurance by 0.4% in the second quarter. Geode Capital Management LLC now owns 606,117 shares of the company's stock valued at $6,741,000 after purchasing an additional 2,269 shares in the last quarter. American Century Companies Inc. lifted its position in American Coastal Insurance by 12.2% during the second quarter. American Century Companies Inc. now owns 548,953 shares of the company's stock valued at $6,104,000 after purchasing an additional 59,907 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in American Coastal Insurance by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 454,957 shares of the company's stock valued at $5,746,000 after purchasing an additional 99,900 shares during the last quarter. Hedge funds and other institutional investors own 22.11% of the company's stock.
Analyst Ratings Changes
A number of research analysts have weighed in on ACIC shares. Oppenheimer began coverage on American Coastal Insurance in a report on Monday, January 12th. They set a "market perform" rating for the company. Wall Street Zen lowered shares of American Coastal Insurance from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Finally, Weiss Ratings raised shares of American Coastal Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy".
Check Out Our Latest Stock Report on American Coastal Insurance
About American Coastal Insurance
(
Get Free Report)
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.
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