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

Posted by Sean Solarzano on Nov 7th, 2024

International General Insurance (NASDAQ:IGIC – Get Free Report) announced its earnings results on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $138.10 million during the quarter.

International General Insurance Stock Up 6.0 %

NASDAQ:IGIC traded up $1.36 during mid-day trading on Thursday, reaching $24.10. 299,494 shares of the company were exchanged, compared to its average volume of 76,035. The stock has a market cap of $1.11 billion, a PE 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. The company has a fifty day moving average of $19.31 and a 200 day moving average of $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 issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, August 30th. International General Insurance’s dividend payout ratio is currently 3.27%.

Analyst Ratings Changes

Separately, Royal Bank of Canada increased 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.

View Our Latest Stock Analysis on International General Insurance

About International General Insurance

(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.