International General Insurance (NASDAQ:IGIC) Announces Earnings Results

International General Insurance (NASDAQ:IGIC) posted its quarterly earnings data on Tuesday. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01, Zacks reports. The company had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $121.50 million. International General Insurance had a return on equity of 15.56% and a net margin of 19.21%.

International General Insurance Stock Up 2.1%

Shares of International General Insurance stock opened at $24.77 on Thursday. The company has a 50 day moving average of $25.14 and a 200 day moving average of $25.56. International General Insurance has a 52-week low of $21.77 and a 52-week high of $29.58. The company has a market capitalization of $1.06 billion, a P/E ratio of 10.17 and a beta of 0.05.

International General Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be paid a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 17th. International General Insurance’s dividend payout ratio (DPR) is presently 12.05%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Zacks Research cut International General Insurance from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings raised International General Insurance from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Royal Bank Of Canada upped their price objective on shares of International General Insurance from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, International General Insurance presently has a consensus rating of “Hold” and a consensus target price of $30.00.

About International General Insurance

International General Insurance Holdings Ltd. (NASDAQ: IGIC) is a specialty insurance and reinsurance company that underwrites risks for commercial clients, brokers and other insurers. The company focuses on complex and specialized lines of business rather than broad consumer insurance products.

Its offerings include energy, property, engineering, marine, aviation, casualty, political violence and other specialty insurance products, along with treaty and facultative reinsurance. Coverage is designed for businesses and industries that may require tailored underwriting and risk-management solutions.

International General Insurance was established in 2001 and serves clients and insurance partners across international markets through underwriting operations in locations including Bermuda, London and Jordan.