International General Insurance (NASDAQ:IGIC) Posts Earnings Results

International General Insurance (NASDAQ:IGIC) announced its quarterly earnings data on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $138.10 million during the quarter.

International General Insurance Stock Performance

Shares of NASDAQ:IGIC traded up $1.36 during mid-day trading on Thursday, hitting $24.10. 299,384 shares of the company traded hands, compared to its average volume of 76,035. The firm has a market cap of $1.11 billion, a P/E ratio of 7.85 and a beta of 0.21. International General Insurance has a 52-week low of $10.83 and a 52-week high of $25.50. The firm’s 50 day simple moving average is $19.31 and its 200 day simple moving average is $16.50.

International General Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, September 2nd were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, August 30th. 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 stock an “outperform” rating in a report 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.