International General Insurance (NASDAQ:IGIC) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

by · The Markets Daily

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

International General Insurance Stock Up 6.0 %

International General Insurance stock traded up $1.36 during midday trading on Thursday, reaching $24.10. The stock had a trading volume of 299,494 shares, compared to its average volume of 76,035. The company has a fifty day moving average of $19.31 and a 200 day moving average of $16.50. International General Insurance has a 52-week low of $10.83 and a 52-week high of $25.50. The firm has a market cap 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 declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Monday, September 2nd were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.10 annualized dividend and a yield of 0.41%. International General Insurance’s payout ratio is 3.27%.

Analyst Ratings Changes

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

Check Out Our Latest Report on IGIC

International General Insurance Company Profile

(Get Free Report)

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.

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