International General Insurance (NASDAQ:IGIC) Sees Strong Trading Volume

Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) saw an uptick in trading volume on Friday . 93,277 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 68,427 shares.The stock last traded at $18.52 and had previously closed at $18.21.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised their target price on International General Insurance from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th.

International General Insurance Price Performance

The company has a market capitalization of $849.16 million, a price-to-earnings ratio of 6.84 and a beta of 0.22. The business has a fifty day moving average price of $15.92 and a 200 day moving average price of $14.41.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The company had revenue of $135.60 million for the quarter. International General Insurance had a return on equity of 25.74% and a net margin of 23.40%.

International General Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Monday, September 2nd will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, August 30th. International General Insurance’s dividend payout ratio (DPR) is 3.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IGIC. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in International General Insurance during the second quarter worth about $2,014,000. Sei Investments Co. grew its holdings in International General Insurance by 112.5% during the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock worth $3,580,000 after acquiring an additional 135,400 shares during the period. Marshall Wace LLP grew its holdings in International General Insurance by 276.8% during the second quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock worth $1,292,000 after acquiring an additional 67,809 shares during the period. Boston Partners acquired a new position in International General Insurance during the fourth quarter worth about $780,000. Finally, Navellier & Associates Inc. acquired a new position in International General Insurance during the fourth quarter worth about $761,000. 54.24% of the stock is owned by institutional investors and hedge funds.

About International General Insurance

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.