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

International General Insurance (NASDAQ:IGIC) released its quarterly earnings results on Tuesday. The company reported $0.89 earnings per share for the quarter, beating 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 Price Performance

NASDAQ:IGIC traded up $0.27 during trading hours on Tuesday, hitting $26.37. 99,778 shares of the company were exchanged, compared to its average volume of 82,655. The company’s 50 day moving average price is $24.78 and its 200-day moving average price is $22.14. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.62 and a beta of 0.27. International General Insurance has a 52-week low of $11.51 and a 52-week high of $27.66.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IGIC shares. Oppenheimer initiated coverage on shares of International General Insurance in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 target price for the company. Royal Bank of Canada raised their price objective on International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research 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.