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

International General Insurance (NASDAQ:IGIC) had its price target lifted by Royal Bank of Canada from $28.00 to $31.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Oppenheimer increased their price target on shares of International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday.

International General Insurance Stock Performance

Shares of IGIC stock opened at $25.47 on Thursday. The firm’s 50 day moving average price is $24.92 and its two-hundred day moving average price is $22.27. 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 52-week low of $11.51 and a 52-week high of $27.76.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $135.20 million during the quarter, compared to analysts’ expectations of $136.20 million. As a group, sell-side analysts predict that International General Insurance will post 3.18 earnings per share for the current fiscal year.

Institutional Trading of International General Insurance

Several hedge funds have recently added to or reduced their stakes in IGIC. ORG Wealth Partners LLC acquired a new position in International General Insurance in the fourth quarter valued at about $60,000. Quantbot Technologies LP bought a new stake in International General Insurance during the 4th quarter worth approximately $87,000. PNC Financial Services Group Inc. acquired a new stake in International General Insurance during the 4th quarter worth approximately $95,000. State of Wyoming bought a new position in International General Insurance in the fourth quarter valued at approximately $107,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of International General Insurance in the fourth quarter valued at approximately $177,000. Institutional investors and hedge funds 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.