SAINT PETERSBURG, Fla. (AP) — SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corporation (ACIC) on Tuesday reported first-quarter profit of $19.3 million.
On a per-share basis, the Saint Petersburg, Florida-based company said it had net income of 39 cents.
The property and casualty insurance company posted revenue of $71.2 million in the period.
American Coastal shares have dropped 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.87, a climb of nearly 2% in the last 12 months.
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