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ST. PETERSBURG, Fla.—Christopher Griffith, the Chief Operating Officer of American Coastal Insurance Corp (NASDAQ:ACIC), a $568 million market cap insurer with a "GREAT" financial health rating according to InvestingPro, has sold 10,000 shares of the company’s common stock. According to a recent SEC filing, the shares were sold at a price of $11.78 each, resulting in a total transaction value of $117,800.
Following this transaction, Griffith retains ownership of 188,210 shares in the company. The sale was executed on June 3, 2025, at a time when the stock was trading near its Fair Value, with a 6.5% total return over the past year and average daily trading volume of 200,000 shares. The transaction appears to be part of Griffith’s ongoing management of his investment in the insurance firm.
In other recent news, American Coastal Insurance Corporation reported its financial results for the first quarter of 2025, showing a net income of $21.3 million, despite a year-over-year core income decrease of $3.7 million. The company saw a 9% increase in net premium earned, reaching $68.3 million, and a 6% rise in policies in force. Additionally, American Coastal Insurance renewed its core catastrophe reinsurance program, increasing its occurrence-based limit to approximately $1.676 billion for the 2025/26 period. The renewal includes a 16% increase in the first event limit and a risk-adjusted rate decrease of 12.2%. In corporate governance, the company held its 2025 Annual Meeting of Stockholders, electing four Class A directors and ratifying Deloitte & Touche as its independent accounting firm. Meanwhile, Raymond (NSE:RYMD) James adjusted the financial outlook for Atlas Crest Investment Corp, lowering its price target from $16.00 to $15.00 but maintaining an Outperform rating. The analyst cited a valuation of 10.4 times the estimated 2026 operating earnings per share as a key factor in the revised target.
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