SAINT PETERSBURG, Fla. (AP) — SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corporation (ACIC) on Thursday reported fourth-quarter net income of $26.6 million.
On a per-share basis, the Saint Petersburg, Florida-based company said it had profit of 53 cents. Earnings, adjusted for non-recurring gains, came to 51 cents per share.
The property and casualty insurance company posted revenue of $86.4 million in the period.
For the year, the company reported profit of $106.8 million, or $2.15 per share. Revenue was reported as $335.4 million.
American Coastal shares have dropped 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.13, a decrease of 17% in the last 12 months.
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