SAINT PETERSBURG, Fla. (AP) — SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corporation (ACIC) on Wednesday reported third-quarter profit of $28.1 million.
The Saint Petersburg, Florida-based company said it had net income of 57 cents per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were 54 cents per share.
The property and casualty insurance company posted revenue of $82.1 million in the period.
American Coastal shares have risen 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.30, an increase of 80% in the last 12 months.
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