International General Insurance (NASDAQ:IGIC) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

International General Insurance (NASDAQ:IGIC) released its quarterly earnings data on Tuesday. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01, Zacks reports. International General Insurance had a return on equity of 17.03% and a net margin of 20.68%.

International General Insurance Price Performance

Shares of NASDAQ:IGIC traded up $0.17 on Tuesday, hitting $25.02. The company’s stock had a trading volume of 69,876 shares, compared to its average volume of 73,323. The company has a 50-day simple moving average of $25.23 and a 200 day simple moving average of $25.56. The company has a market capitalization of $1.07 billion, a PE ratio of 10.05 and a beta of 0.04. International General Insurance has a 1 year low of $21.00 and a 1 year high of $29.58.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of International General Insurance from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Royal Bank Of Canada upped their price objective on shares of International General Insurance from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised International General Insurance from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

International General Insurance Company Profile

International General Insurance Holdings Ltd. (NASDAQ: IGIC) is a specialty insurance and reinsurance company that underwrites risks for commercial clients, brokers and other insurers. The company focuses on complex and specialized lines of business rather than broad consumer insurance products.

Its offerings include energy, property, engineering, marine, aviation, casualty, political violence and other specialty insurance products, along with treaty and facultative reinsurance. Coverage is designed for businesses and industries that may require tailored underwriting and risk-management solutions.

International General Insurance was established in 2001 and serves clients and insurance partners across international markets through underwriting operations in locations including Bermuda, London and Jordan.