SAINT PETERSBURG, Fla. (AP) — SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corporation (ACIC) on Thursday reported first-quarter net income of $21.3 million.
On a per-share basis, the Saint Petersburg, Florida-based company said it had profit of 43 cents. Earnings, adjusted to account for discontinued operations, came to 42 cents per share.
The property and casualty insurance company posted revenue of $72.2 million in the period.
American Coastal shares have fallen 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.92, an increase of 11% in the last 12 months.
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