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

International General Insurance (NASDAQ:IGIC) posted its quarterly earnings data on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.11, Zacks reports. The business 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 %

NASDAQ:IGIC traded up $1.36 during trading hours on Thursday, hitting $24.10. 299,494 shares of the company traded hands, compared to its average volume of 76,035. 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 has a twelve month low of $10.83 and a twelve month high of $25.50. The firm has a 50-day moving average of $19.31 and a 200 day moving average of $16.50.

International General Insurance Announces Dividend

The business also recently announced 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. 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 payout ratio is currently 3.27%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upped their price objective on shares of 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.