International General Insurance (NASDAQ:IGIC) Stock Price Expected to Rise, Oppenheimer Analyst Says

International General Insurance (NASDAQ:IGIC) had its price objective upped by Oppenheimer from $30.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 22.65% from the company’s previous close.

Separately, Royal Bank of Canada increased their target price on shares of International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

International General Insurance Price Performance

IGIC opened at $26.09 on Thursday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 8.53 and a beta of 0.27. The business has a 50-day moving average of $24.97 and a two-hundred day moving average of $22.34. International General Insurance has a 12 month low of $11.51 and a 12 month high of $27.76.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $135.20 million during the quarter, compared to analysts’ expectations of $136.20 million. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. Equities research analysts anticipate that International General Insurance will post 3.18 earnings per share for the current year.

Institutional Trading of International General Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of IGIC. ORG Wealth Partners LLC acquired a new stake in International General Insurance during the 4th quarter worth approximately $60,000. Quantbot Technologies LP acquired a new stake in International General Insurance in the fourth quarter valued at approximately $87,000. PNC Financial Services Group Inc. acquired a new stake in International General Insurance in the fourth quarter valued at approximately $95,000. State of Wyoming acquired a new stake in International General Insurance in the fourth quarter valued at approximately $107,000. Finally, Geneos Wealth Management Inc. acquired a new stake in International General Insurance in the fourth quarter valued at approximately $177,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

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.