Sei Investments Co. boosted its holdings in shares of American Coastal Insurance Corporation (NASDAQ:ACIC – Free 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.
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
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
- Five stocks we like better than American Coastal Insurance
- SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control
- Why Rare Earth Processing Could Be the Real 2027 Opportunity
- The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure
- TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks?
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.
