Squarepoint Ops LLC Invests $741,000 in American Coastal Insurance Corporation $ACIC

Squarepoint Ops LLC bought a new stake in shares of American Coastal Insurance Corporation (NASDAQ:ACIC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 66,665 shares of the company’s stock, valued at approximately $741,000. Squarepoint Ops LLC owned approximately 0.14% of American Coastal Insurance as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of ACIC. Russell Investments Group Ltd. raised its holdings in American Coastal Insurance by 4,508.6% during the second quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company’s stock valued at $30,000 after acquiring an additional 2,615 shares during the period. Tower Research Capital LLC TRC grew its position in shares of American Coastal Insurance by 273.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company’s stock worth $52,000 after purchasing an additional 3,434 shares in the last quarter. State of Wyoming bought a new stake in American Coastal Insurance during the 2nd quarter valued at approximately $59,000. Tactive Advisors LLC purchased a new position in American Coastal Insurance in the 2nd quarter worth approximately $120,000. Finally, Engineers Gate Manager LP purchased a new position in American Coastal Insurance in the 2nd quarter worth approximately $180,000. Institutional investors own 22.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Coastal Insurance in a report on Monday. Wall Street Zen upgraded shares of American Coastal Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

American Coastal Insurance Price Performance

NASDAQ:ACIC opened at $12.71 on Wednesday. The company has a market cap of $619.74 million, a price-to-earnings ratio of 7.43 and a beta of -0.49. American Coastal Insurance Corporation has a 1 year low of $9.97 and a 1 year high of $13.78. The stock’s 50 day simple moving average is $12.07 and its two-hundred day simple moving average is $11.33.

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 during the quarter.

American Coastal Insurance Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, January 2nd will be issued a $0.75 dividend. The ex-dividend date is Friday, January 2nd.

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.