International General Insurance (NASDAQ:IGIC) Sees Unusually-High Trading Volume – What’s Next?

Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) saw strong trading volume on Friday . 50,534 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 61,672 shares.The stock last traded at $23.6950 and had previously closed at $23.72.

Wall Street Analysts Forecast Growth

IGIC has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International General Insurance in a report on Thursday, January 22nd. Royal Bank Of Canada initiated coverage on International General Insurance in a report on Tuesday, December 16th. They issued an “outperform” rating and a $28.00 target price on the stock. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $28.00.

International General Insurance Stock Down 0.9%

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 8.19 and a beta of 0.15. The business has a 50-day moving average of $24.71 and a two-hundred day moving average of $24.03.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. The firm had revenue of $126.40 million during the quarter, compared to analysts’ expectations of $116.40 million. International General Insurance had a return on equity of 16.98% and a net margin of 24.61%. Equities analysts predict that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.

International General Insurance Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, April 6th. Stockholders of record on Wednesday, March 18th will be paid a $1.15 dividend. The ex-dividend date is Wednesday, March 18th. This represents a dividend yield of 460.0%. International General Insurance’s dividend payout ratio (DPR) is 6.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Royce & Associates LP boosted its holdings in International General Insurance by 3.3% in the third quarter. Royce & Associates LP now owns 3,173,626 shares of the company’s stock valued at $73,628,000 after acquiring an additional 100,464 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in International General Insurance by 0.4% in the fourth quarter. Russell Investments Group Ltd. now owns 396,512 shares of the company’s stock valued at $9,948,000 after acquiring an additional 1,661 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in International General Insurance by 35.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 370,316 shares of the company’s stock worth $9,291,000 after acquiring an additional 96,536 shares during the period. Shay Capital LLC grew its holdings in International General Insurance by 13.1% during the 3rd quarter. Shay Capital LLC now owns 237,694 shares of the company’s stock worth $5,515,000 after acquiring an additional 27,444 shares during the period. Finally, CWA Asset Management Group LLC raised its position in shares of International General Insurance by 3.4% during the 4th quarter. CWA Asset Management Group LLC now owns 85,104 shares of the company’s stock valued at $2,135,000 after acquiring an additional 2,817 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors.

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.