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

International General Insurance (NASDAQ:IGIC) released its earnings results on Tuesday. The company reported $0.89 earnings per share 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 Trading Up 1.0 %

IGIC stock traded up $0.27 during midday trading on Tuesday, reaching $26.37. The company had a trading volume of 99,779 shares, compared to its average volume of 82,658. The company has a 50 day moving average of $24.78 and a two-hundred day moving average of $22.14. The company has a market capitalization of $1.21 billion, a P/E ratio of 8.62 and a beta of 0.27. International General Insurance has a 1 year low of $11.51 and a 1 year high of $27.66.

Analyst Upgrades and Downgrades

Several research firms recently commented on IGIC. Royal Bank of Canada increased their target price on shares of International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Oppenheimer assumed coverage on International General Insurance in a research report on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target for the company.

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.