International General Insurance (NASDAQ:IGIC) Price Target Raised to $26.00

International General Insurance (NASDAQ:IGIC) had its price target upped by research analysts at Royal Bank of Canada from $22.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 10.92% from the company’s current price.

International General Insurance Stock Performance

International General Insurance stock traded up $0.70 during trading hours on Thursday, hitting $23.44. The company had a trading volume of 78,920 shares, compared to its average volume of 75,014. The firm has a market cap of $1.08 billion, a P/E ratio of 7.59 and a beta of 0.21. The company has a 50-day moving average price of $19.22 and a two-hundred day moving average price of $16.46. International General Insurance has a 1 year low of $10.83 and a 1 year high of $23.91.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. The firm had revenue of $138.10 million during the quarter. International General Insurance had a return on equity of 25.74% and a net margin of 23.40%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. bought a new position in shares of International General Insurance during the third quarter valued at approximately $3,338,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in International General Insurance during the 2nd quarter valued at $2,014,000. Sei Investments Co. boosted its position in International General Insurance by 112.5% during the 2nd quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock valued at $3,580,000 after acquiring an additional 135,400 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of International General Insurance by 276.8% in the 2nd quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock valued at $1,292,000 after acquiring an additional 67,809 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of International General Insurance by 35.1% in the 2nd quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock worth $3,095,000 after acquiring an additional 57,399 shares in the last quarter. Hedge funds and other institutional investors own 54.24% of the company’s 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.