International General Insurance (NASDAQ:IGIC) Given New $31.00 Price Target at Royal Bank of Canada

International General Insurance (NASDAQ:IGIC) had its target price increased by Royal Bank of Canada from $28.00 to $31.00 in a report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, Oppenheimer upped their price objective on shares of International General Insurance from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday.

International General Insurance Trading Down 4.2 %

Shares of IGIC opened at $25.47 on Thursday. The stock has a market cap of $1.17 billion, a PE ratio of 8.32 and a beta of 0.27. International General Insurance has a 1 year low of $11.51 and a 1 year high of $27.76. The stock has a 50 day simple moving average of $24.92 and a 200-day simple moving average of $22.27.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The firm had revenue of $135.20 million during the quarter, compared to analyst estimates of $136.20 million. On average, sell-side analysts forecast that International General Insurance will post 3.18 EPS for the current fiscal year.

Institutional Trading of International General Insurance

Several large investors have recently made changes to their positions in the business. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in International General Insurance by 0.3% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company’s stock worth $4,510,000 after buying an additional 525 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of International General Insurance by 3.2% during the third quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock worth $530,000 after purchasing an additional 859 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of International General Insurance by 5.4% in the fourth quarter. Lazard Asset Management LLC now owns 22,559 shares of the company’s stock valued at $536,000 after purchasing an additional 1,152 shares in the last quarter. Tidal Investments LLC raised its position in International General Insurance by 9.1% in the 4th quarter. Tidal Investments LLC now owns 21,363 shares of the company’s stock worth $508,000 after purchasing an additional 1,778 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in International General Insurance during the 4th quarter worth $60,000. Institutional investors own 54.24% of the company’s stock.

About International General Insurance

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.