International General Insurance (NASDAQ:IGIC) Given New $32.00 Price Target at Oppenheimer

International General Insurance (NASDAQ:IGIC) had its target price boosted by Oppenheimer from $30.00 to $32.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Royal Bank of Canada increased their price target on shares of International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

International General Insurance Trading Down 4.2 %

Shares of NASDAQ:IGIC opened at $25.47 on Thursday. International General Insurance has a 1-year low of $11.51 and a 1-year high of $27.76. The firm has a market capitalization of $1.17 billion, a PE ratio of 8.32 and a beta of 0.27. The business’s 50 day moving average is $24.92 and its 200-day moving average is $22.27.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The company had revenue of $135.20 million during the quarter, compared to analyst estimates of $136.20 million. On average, sell-side analysts predict that International General Insurance will post 3.18 EPS for the current year.

Hedge Funds Weigh In On International General Insurance

Institutional investors and hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new position in International General Insurance in the 4th quarter valued at $60,000. Quantbot Technologies LP acquired a new position in shares of International General Insurance in the fourth quarter valued at approximately $87,000. PNC Financial Services Group Inc. acquired a new position in shares of International General Insurance during the fourth quarter worth $95,000. State of Wyoming bought a new stake in shares of International General Insurance in the 4th quarter valued at about $107,000. Finally, Geneos Wealth Management Inc. acquired a new stake in International General Insurance during the 4th quarter valued at approximately $177,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.