International General Insurance (NASDAQ:IGIC) Trading Up 4.7% – What’s Next?

International General Insurance Holdings Ltd. (NASDAQ:IGIC) traded up 4.7% on Thursday . The stock traded as high as $26.41 and last traded at $26.83. 6,925 shares were traded during trading, a decline of 92% from the average session volume of 88,336 shares. The stock had previously closed at $25.63.

Analyst Upgrades and Downgrades

IGIC has been the subject of several recent research reports. Oppenheimer lifted their price objective on International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada boosted their price target on shares of International General Insurance from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th.

International General Insurance Stock Up 4.5 %

The stock has a fifty day moving average of $25.28 and a 200-day moving average of $23.11. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 8.77 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The company had revenue of $135.20 million for the quarter, compared to the consensus estimate of $136.20 million. On average, equities analysts forecast that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.

Institutional Investors Weigh In On International General Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of IGIC. ORG Wealth Partners LLC acquired a new stake in shares of International General Insurance in the 4th quarter worth approximately $60,000. Quantbot Technologies LP purchased a new stake in International General Insurance during the fourth quarter worth $87,000. PNC Financial Services Group Inc. acquired a new stake in International General Insurance in the fourth quarter valued at $95,000. State of Wyoming purchased a new position in shares of International General Insurance in the fourth quarter valued at $107,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of International General Insurance during the 4th quarter worth $177,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.