Sei Investments Co. Acquires 326,340 Shares of American Coastal Insurance Corporation $ACIC

Sei Investments Co. boosted its holdings in shares of American Coastal Insurance Corporation (NASDAQ:ACICFree Report) by 118.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 601,481 shares of the company’s stock after buying an additional 326,340 shares during the quarter. Sei Investments Co. owned approximately 1.24% of American Coastal Insurance worth $6,767,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allegheny Financial Group lifted its position in shares of American Coastal Insurance by 6.3% in the fourth quarter. Allegheny Financial Group now owns 19,166 shares of the company’s stock valued at $242,000 after buying an additional 1,137 shares during the last quarter. Osaic Holdings Inc. raised its stake in American Coastal Insurance by 7.2% in the 4th quarter. Osaic Holdings Inc. now owns 17,917 shares of the company’s stock valued at $226,000 after acquiring an additional 1,202 shares during the period. Martingale Asset Management L P lifted its holdings in American Coastal Insurance by 3.1% during the 4th 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 last quarter. Invesco Ltd. lifted its holdings in American Coastal Insurance by 9.7% during the 2nd 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 last quarter. Finally, First Trust Advisors LP boosted its position in American Coastal Insurance by 2.5% during the fourth quarter. First Trust Advisors LP now owns 78,625 shares of the company’s stock worth $993,000 after purchasing an additional 1,906 shares during the period. Institutional investors own 22.11% of the company’s stock.

American Coastal Insurance Stock Up 2.9%

NASDAQ ACIC opened at $10.93 on Tuesday. The firm has a 50-day moving average price of $10.68 and a two-hundred day moving average price of $11.05. American Coastal Insurance Corporation has a 12-month low of $9.77 and a 12-month high of $13.06. The company has a market capitalization of $529.67 million, a P/E ratio of 5.20, a P/E/G ratio of 3.69 and a beta of -0.47.

American Coastal Insurance (NASDAQ:ACICGet Free Report) last announced its earnings results 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 return on equity of 32.26% and a net margin of 31.32%.The business had revenue of $71.22 million for the quarter, compared to the consensus estimate of $75.78 million. Equities analysts expect that American Coastal Insurance Corporation will post 0.96 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ACIC shares. Wall Street Zen downgraded shares of American Coastal Insurance from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings cut shares of American Coastal Insurance from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Finally, Zacks Research downgraded shares of American Coastal Insurance from a “hold” rating to a “strong sell” rating in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, American Coastal Insurance currently has a consensus rating of “Reduce”.

Read Our Latest Stock Report on American Coastal Insurance

About American Coastal Insurance

(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.

See Also

Institutional Ownership by Quarter for American Coastal Insurance (NASDAQ:ACIC)

Receive News & Ratings for American Coastal Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Coastal Insurance and related companies with MarketBeat.com's FREE daily email newsletter.