SAINT PETERSBURG, Fla. (AP) — SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corporation (ACIC) on Wednesday reported third-quarter net income of $32.5 million.
The Saint Petersburg, Florida-based company said it had profit of 65 cents per share. Earnings, adjusted for non-recurring gains, came to 61 cents per share.
The property and casualty insurance company posted revenue of $90.4 million in the period.
American Coastal shares have dropped roughly 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.40, a fall of slightly more than 3% in the last 12 months.
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