Sei Investments Co. Has $6.77 Million Stock Position in American Coastal Insurance Corporation $ACIC

Sei Investments Co. increased its stake in American Coastal Insurance Corporation (NASDAQ:ACIC) by 118.6% during the first quarter, Holdings Channel reports. The firm owned 601,481 shares of the company’s stock after acquiring an additional 326,340 shares during the period. Sei Investments Co.’s holdings in American Coastal Insurance were worth $6,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACIC. Militia Capital Management LLC bought a new stake in American Coastal Insurance during the first quarter worth about $2,257,000. Empowered Funds LLC increased its holdings in American Coastal Insurance by 216.9% in 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 during the period. Raymond James Financial Inc. raised its position in shares of American Coastal Insurance by 353.2% in the 2nd quarter. Raymond James Financial Inc. now owns 229,123 shares of the company’s stock valued at $2,548,000 after buying an additional 178,562 shares in the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of American Coastal Insurance by 21.4% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 723,900 shares of the company’s stock valued at $8,245,000 after buying an additional 127,571 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of American Coastal Insurance by 19.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 750,108 shares of the company’s stock worth $8,439,000 after acquiring an additional 122,778 shares during the period. Institutional investors and hedge funds own 22.11% of the company’s stock.

Analysts Set New Price Targets

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

American Coastal Insurance Stock Up 2.9%

NASDAQ ACIC opened at $10.93 on Tuesday. The company has a market cap of $529.67 million, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 3.69 and a beta of -0.47. American Coastal Insurance Corporation has a twelve month low of $9.77 and a twelve month high of $13.06. The business’s fifty day moving average is $10.68 and its 200 day moving average is $11.05.

American Coastal Insurance (NASDAQ:ACIC) last issued its earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). The firm had revenue of $71.22 million during the quarter, compared to analyst estimates of $75.78 million. American Coastal Insurance had a return on equity of 32.26% and a net margin of 31.32%. On average, research analysts anticipate that American Coastal Insurance Corporation will post 0.96 earnings per share for the current fiscal year.

American Coastal Insurance Profile

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.