International General Insurance (NASDAQ:IGIC) Issues Earnings Results

International General Insurance (NASDAQ:IGIC) issued its quarterly 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 return on equity of 22.78% and a net margin of 26.24%.

International General Insurance Price Performance

Shares of NASDAQ IGIC traded up $0.27 during mid-day trading on Tuesday, hitting $26.37. The company’s stock had a trading volume of 99,779 shares, compared to its average volume of 82,658. International General Insurance has a one year low of $11.51 and a one year high of $27.66. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 8.62 and a beta of 0.27. The company’s fifty day simple moving average is $24.78 and its 200-day simple moving average is $22.14.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Oppenheimer began coverage on International General Insurance in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

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.