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

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

International General Insurance Trading Up 6.0 %

Shares of International General Insurance stock traded up $1.36 on Thursday, hitting $24.10. 299,494 shares of the company traded hands, compared to its average volume of 76,035. The firm’s 50-day simple moving average is $19.31 and its 200 day simple moving average is $16.50. The company 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 12-month low of $10.83 and a 12-month high of $25.50.

International General Insurance Dividend Announcement

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

Analyst Upgrades and Downgrades

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