American Coastal Insurance Corporation $ACIC Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its holdings in shares of American Coastal Insurance Corporation (NASDAQ:ACIC) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,953 shares of the company’s stock after purchasing an additional 59,907 shares during the period. American Century Companies Inc. owned about 1.13% of American Coastal Insurance worth $6,104,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of American Coastal Insurance by 549.9% in the second quarter. JPMorgan Chase & Co. now owns 118,616 shares of the company’s stock valued at $1,319,000 after purchasing an additional 100,365 shares in the last quarter. Magnetar Financial LLC acquired a new stake in American Coastal Insurance during the 2nd quarter worth approximately $333,000. Geode Capital Management LLC boosted its position in American Coastal Insurance by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 606,117 shares of the company’s stock valued at $6,741,000 after buying an additional 2,269 shares during the period. Bastion Asset Management Inc. boosted its position in American Coastal Insurance by 24.5% in the 2nd quarter. Bastion Asset Management Inc. now owns 373,073 shares of the company’s stock valued at $4,336,000 after buying an additional 73,389 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of American Coastal Insurance by 17.0% in the second quarter. Farther Finance Advisors LLC now owns 51,736 shares of the company’s stock worth $575,000 after acquiring an additional 7,519 shares in the last quarter. Institutional investors and hedge funds own 22.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Coastal Insurance in a research note on Monday, December 1st. Wall Street Zen raised American Coastal Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

American Coastal Insurance Trading Down 0.7%

American Coastal Insurance stock opened at $12.11 on Friday. The stock has a market cap of $590.48 million, a P/E ratio of 7.08 and a beta of -0.49. The company has a fifty day simple moving average of $11.86 and a 200-day simple moving average of $11.20. American Coastal Insurance Corporation has a 12-month low of $9.97 and a 12-month high of $14.62.

American Coastal Insurance (NASDAQ:ACIC) last posted its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter. American Coastal Insurance had a return on equity of 30.06% and a net margin of 25.95%.The firm had revenue of $0.09 million for the quarter.

About American Coastal Insurance

American Coastal Insurance Corporation operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners.