International General Insurance Holdings Ltd. (NASDAQ:IGIC) Short Interest Update

International General Insurance Holdings Ltd. (NASDAQ:IGIC) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 118,800 shares, a decline of 33.6% from the November 15th total of 178,800 shares. Based on an average trading volume of 116,600 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.8% of the company’s shares are short sold.

International General Insurance Stock Up 0.6 %

NASDAQ:IGIC opened at $24.47 on Friday. The company has a fifty day moving average of $22.96 and a 200-day moving average of $18.62. The firm has a market capitalization of $1.12 billion, a P/E ratio of 8.00 and a beta of 0.25. International General Insurance has a twelve month low of $11.51 and a twelve month high of $27.00.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. The business had revenue of $138.10 million during the quarter. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. On average, analysts anticipate that International General Insurance will post 2.91 EPS for the current fiscal year.

International General Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.10 dividend on an annualized basis and a yield of 0.41%. International General Insurance’s dividend payout ratio (DPR) is presently 3.27%.

Institutional Trading of International General Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC bought a new stake in International General Insurance during the 3rd quarter valued at $372,000. Geode Capital Management LLC increased its stake in International General Insurance by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock valued at $530,000 after purchasing an additional 859 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in International General Insurance during the 3rd quarter valued at $265,000. Diamond Hill Capital Management Inc. bought a new stake in International General Insurance during the 3rd quarter valued at $3,338,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in International General Insurance by 31.6% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,300 shares of the company’s stock worth $3,597,000 after acquiring an additional 45,455 shares during the last quarter. Institutional investors own 54.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Oppenheimer assumed coverage on shares of International General Insurance in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price objective for the company.

International General Insurance Company Profile

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.