American Coastal Insurance Corporation $ACIC Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its American Coastal Insurance stake by 19.6% in the first quarter, acquiring 122,778 additional shares and bringing its holdings to 750,108 shares, or approximately 1.54% of the company.
• Several other institutional investors also expanded their positions, contributing to institutional ownership of 22.11% of ACIC shares.
• ACIC shares opened at $9.95, near their one-year low, after the company reported quarterly EPS of $0.33—below the $0.42 analyst consensus. Analysts maintain a consensus “Hold” rating.

Dimensional Fund Advisors LP raised its holdings in American Coastal Insurance Corporation (NASDAQ:ACIC - Free Report) by 19.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 750,108 shares of the company's stock after purchasing an additional 122,778 shares during the quarter. Dimensional Fund Advisors LP owned about 1.54% of American Coastal Insurance worth $8,439,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in American Coastal Insurance by 549.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 118,616 shares of the company's stock worth $1,319,000 after acquiring an additional 100,365 shares during the period. Russell Investments Group Ltd. grew its position in American Coastal Insurance by 4,508.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company's stock valued at $30,000 after buying an additional 2,615 shares during the last quarter. Quantbot Technologies LP grew its position in American Coastal Insurance by 762.8% in the 2nd quarter. Quantbot Technologies LP now owns 32,374 shares of the company's stock valued at $360,000 after buying an additional 28,622 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in American Coastal Insurance in the 2nd quarter valued at $767,000. Finally, Invesco Ltd. increased its stake in American Coastal Insurance by 9.7% in the 2nd quarter. Invesco Ltd. now owns 19,674 shares of the company's stock valued at $219,000 after buying an additional 1,736 shares during the period. 22.11% of the stock is owned by hedge funds and other institutional investors.

American Coastal Insurance Price Performance

Shares of NASDAQ ACIC opened at $9.95 on Tuesday. The firm has a market capitalization of $482.18 million, a P/E ratio of 4.95, a PEG ratio of 3.62 and a beta of -0.47. American Coastal Insurance Corporation has a one year low of $9.72 and a one year high of $13.06. The company's fifty day moving average is $10.67 and its two-hundred day moving average is $11.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.88 and a current ratio of 0.88.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.09). American Coastal Insurance had a net margin of 30.31% and a return on equity of 27.95%. The company had revenue of $82.60 million during the quarter. Analysts forecast that American Coastal Insurance Corporation will post 0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of American Coastal Insurance from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings lowered 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 upgraded shares of American Coastal Insurance from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".

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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