International General Insurance (NASDAQ:IGIC) Coverage Initiated at Oppenheimer

Oppenheimer began coverage on shares of International General Insurance (NASDAQ:IGIC) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm issued an outperform rating and a $30.00 price objective on the stock.

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

International General Insurance Stock Down 0.2 %

NASDAQ IGIC opened at $25.98 on Thursday. The stock has a market cap of $1.19 billion, a PE ratio of 8.49 and a beta of 0.21. The business has a 50 day moving average price of $20.97 and a two-hundred day moving average price of $17.49. International General Insurance has a fifty-two week low of $11.46 and a fifty-two week high of $27.00.

International General Insurance (NASDAQ:IGIC) last announced its earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.11. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The business had revenue of $138.10 million during the quarter.

International General Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Tuesday, December 3rd. International General Insurance’s dividend payout ratio (DPR) is currently 3.27%.

Institutional Trading of International General Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new position in International General Insurance during the 2nd quarter worth $152,000. LSV Asset Management acquired a new position in International General Insurance in the second quarter worth about $179,000. Virtu Financial LLC bought a new stake in International General Insurance in the first quarter valued at about $209,000. Victory Capital Management Inc. acquired a new stake in International General Insurance during the second quarter valued at approximately $229,000. Finally, Kingsview Wealth Management LLC bought a new position in International General Insurance during the 3rd quarter worth approximately $265,000. Institutional investors own 54.24% of the company’s stock.

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.