International General Insurance Holdings Ltd.
International General Insurance Holdings Ltd. (NASDAQ: IGIC) is primarily involved in the insurance and reinsurance industries. In more than 200 countries and territories, it underwrites a portfolio of specialized risks such as energy, property, construction and engineering, ports and terminals, general aviation, political violence, casualty, financial institutions, marine liability, and treaty reinsurance.
Why Should Investors Makes an Exit?
Valuation Methodology: Price/Book Value Multiple Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's FY1 trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
IGIC's stock price has been relatively stable throughout the year, fallen 15.91% in the past nine months and is currently leaning towards the lower-band of the 52-week range of USD 6.75 to USD 11.05. The stock is currently trading between its 50 and 200 DMA levels, and its RSI Index is 59.10, approaching the overbought zone. We have valued the stock using the Price/Book Value-based relative valuation methodology and arrived at a target price of USD 7.00.
Considering the current trading levels, reliance on brokers, technical bearishness, decline in fundamentals, and current valuation, we recommend a "Sell" rating on the stock at the closing price of USD 7.82, down 1.64% as of March 30, 2022.