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

Key Points

• Q1 earnings miss: International General Insurance reported EPS of $0.56, missing the $0.67 consensus by $0.11, while posting a net margin of 24.61% and a return on equity of 16.98%.
• Stock reaction and valuation: Shares rose about 1% to $25.12 on unusually heavy volume (111,884 vs. avg. 37,877); the company has a $1.08B market cap, a P/E of 8.75 and a 52-week range of $20.82–$27.43.
• Dividend and analyst view: The firm paid an annual dividend of $1.15 per share (ex-dividend March 18; article reports a 497.0% yield and a 6.97% payout ratio), and analysts maintain a consensus "Buy" with an average target of $28 while institutions own ~54.24% of the stock.

International General Insurance (NASDAQ:IGIC - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.11), Zacks reports. International General Insurance had a net margin of 24.61% and a return on equity of 16.98%.

International General Insurance Stock Up 1.0%

Shares of IGIC stock traded up $0.24 during trading hours on Tuesday, reaching $25.12. 111,884 shares of the company's stock were exchanged, compared to its average volume of 37,877. International General Insurance has a fifty-two week low of $20.82 and a fifty-two week high of $27.43. The stock has a market capitalization of $1.08 billion, a P/E ratio of 8.75 and a beta of 0.14. The business has a fifty day moving average price of $24.97 and a 200-day moving average price of $24.37.

International General Insurance Announces Dividend

The firm also recently declared an annual dividend, which was paid on Monday, April 6th. Stockholders of record on Wednesday, March 18th were issued a dividend of $1.15 per share. The ex-dividend date was Wednesday, March 18th. This represents a dividend yield of 497.0%. International General Insurance's payout ratio is 6.97%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IGIC. Smartleaf Asset Management LLC acquired a new position in shares of International General Insurance during the fourth quarter worth approximately $56,000. State of Wyoming increased its position in shares of International General Insurance by 179.2% during the second quarter. State of Wyoming now owns 6,665 shares of the company's stock valued at $160,000 after purchasing an additional 4,278 shares during the period. Osaic Holdings Inc. increased its position in shares of International General Insurance by 29.2% during the second quarter. Osaic Holdings Inc. now owns 6,752 shares of the company's stock valued at $162,000 after purchasing an additional 1,524 shares during the period. Royal Bank of Canada increased its position in shares of International General Insurance by 16.5% during the fourth quarter. Royal Bank of Canada now owns 6,559 shares of the company's stock valued at $165,000 after purchasing an additional 929 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of International General Insurance by 61.0% during the second quarter. BNP Paribas Financial Markets now owns 7,824 shares of the company's stock valued at $188,000 after purchasing an additional 2,963 shares during the period. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of International General Insurance in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $28.00.

About International General Insurance

International General Insurance NASDAQ: IGIC is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.

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