American Coastal Insurance Corporation $ACIC Shares Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its American Coastal Insurance position by 433.8% in the first quarter, owning 317,891 shares valued at approximately $3.6 million. Other institutions also expanded their holdings, with institutional investors collectively owning 22.11% of ACIC.
• Analyst sentiment weakened, with Wall Street Zen and Weiss Ratings downgrading the stock to “Hold” and Zacks Research issuing a “Strong Sell” rating. MarketBeat’s average analyst rating is “Reduce.”
• ACIC recently traded near $10.93, within a 52-week range of $9.77 to $13.06, while its latest quarterly results missed expectations: earnings were $0.39 per share versus $0.44 expected, and revenue was $71.22 million versus $75.78 million forecast.

Arrowstreet Capital Limited Partnership grew its position in shares of American Coastal Insurance Corporation (NASDAQ:ACIC - Free Report) by 433.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 317,891 shares of the company's stock after buying an additional 258,344 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.66% of American Coastal Insurance worth $3,576,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sei Investments Co. boosted its holdings in American Coastal Insurance by 118.6% in the first quarter. Sei Investments Co. now owns 601,481 shares of the company's stock worth $6,767,000 after purchasing an additional 326,340 shares during the period. Militia Capital Management LLC bought a new position in shares of American Coastal Insurance in the 1st quarter worth about $2,257,000. Empowered Funds LLC boosted its holdings in shares of 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. boosted its holdings 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 during the period. Finally, Punch & Associates Investment Management Inc. grew its position in shares of American Coastal Insurance by 21.4% during 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 during the last quarter. 22.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ACIC has been the topic of several research reports. Wall Street Zen lowered shares of American Coastal Insurance from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Zacks Research downgraded American Coastal Insurance from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 21st. Finally, Weiss Ratings lowered American Coastal Insurance from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce".

American Coastal Insurance Stock Performance

Shares of ACIC stock opened at $10.93 on Tuesday. American Coastal Insurance Corporation has a 1 year low of $9.77 and a 1 year high of $13.06. The firm has a market capitalization of $529.67 million, a PE ratio of 5.20, a price-to-earnings-growth ratio of 3.69 and a beta of -0.47. The stock has a fifty day moving average of $10.68 and a two-hundred day moving average of $11.05.

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

American Coastal Insurance Company 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.

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