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

International General Insurance (NASDAQ:IGIC) issued its earnings results on Tuesday. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11, Zacks reports. International General Insurance had a net margin of 23.40% and a return on equity of 25.74%. The business had revenue of $138.10 million for the quarter.

International General Insurance Trading Up 6.0 %

Shares of IGIC traded up $1.36 during midday trading on Thursday, hitting $24.10. 299,494 shares of the company’s stock traded hands, compared to its average volume of 76,035. The firm’s fifty day moving average is $19.31 and its 200-day moving average is $16.50. International General Insurance has a 1 year low of $10.83 and a 1 year high of $25.50. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.85 and a beta of 0.21.

International General Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Monday, September 2nd were paid a dividend of $0.025 per share. The ex-dividend date was Friday, August 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.41%. International General Insurance’s dividend payout ratio (DPR) is presently 3.27%.

Analysts Set New Price Targets

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

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.