International General Insurance (NASDAQ:IGIC) Issues Quarterly Earnings Results

International General Insurance (NASDAQ:IGIC) issued its earnings results on Tuesday. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01, Zacks reports. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%.

International General Insurance Stock Up 1.0 %

IGIC stock traded up $0.27 during trading on Tuesday, hitting $26.37. 99,778 shares of the company’s stock traded hands, compared to its average volume of 82,655. The firm has a market capitalization of $1.21 billion, a P/E ratio of 8.62 and a beta of 0.27. International General Insurance has a 1 year low of $11.51 and a 1 year high of $27.66. The business has a fifty day simple moving average of $24.78 and a two-hundred day simple moving average of $22.14.

Wall Street Analysts Forecast Growth

IGIC has been the topic of several research analyst reports. Royal Bank of Canada increased their price objective on International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Oppenheimer initiated coverage on International General Insurance in a research note on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target on the stock.

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.