International General Insurance (NASDAQ:IGIC) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

International General Insurance (NASDAQ:IGIC) released its earnings results on Tuesday. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.11, Zacks reports. The firm had revenue of $138.10 million during the quarter. International General Insurance had a net margin of 23.40% and a return on equity of 25.74%.

International General Insurance Trading Up 6.0 %

International General Insurance stock traded up $1.36 during midday trading on Thursday, reaching $24.10. 299,384 shares of the stock traded hands, compared to its average volume of 76,035. International General Insurance has a fifty-two week low of $10.83 and a fifty-two week high of $25.50. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 7.85 and a beta of 0.21. The firm has a fifty day moving average price of $19.31 and a two-hundred day moving average price of $16.50.

International General Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Monday, September 2nd were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.41%. International General Insurance’s dividend payout ratio is currently 3.27%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their target price on International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday.

International General Insurance Company Profile

International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It is involved in underwriting a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, motor, marine liability, contingency, marine, treaty, and casualty insurance and reinsurance.