International General Insurance (NASDAQ:IGIC) Sees Strong Trading Volume – Here’s Why

International General Insurance Holdings Ltd. (NASDAQ:IGIC) shares saw unusually-high trading volume on Monday . Approximately 175,156 shares changed hands during mid-day trading, an increase of 68% from the previous session’s volume of 104,275 shares.The stock last traded at $23.54 and had previously closed at $23.90.

Analyst Upgrades and Downgrades

IGIC has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their price target 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 began coverage on International General Insurance in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 target price for the company.

International General Insurance Stock Performance

The company’s fifty day moving average is $24.33 and its two-hundred day moving average is $19.67. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 7.79 and a beta of 0.27.

International General Insurance (NASDAQ:IGIC) last posted its earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. The company 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, sell-side analysts anticipate that International General Insurance Holdings Ltd. will post 2.91 EPS for the current fiscal year.

International General Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Tuesday, December 3rd. International General Insurance’s dividend payout ratio (DPR) is presently 3.27%.

Institutional Trading of International General Insurance

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of International General Insurance by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock worth $530,000 after buying an additional 859 shares during the period. JPMorgan Chase & Co. raised its position in International General Insurance by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company’s stock worth $320,000 after acquiring an additional 3,562 shares during the period. LSV Asset Management acquired a new stake in shares of International General Insurance in the second quarter valued at about $179,000. Kingsview Wealth Management LLC purchased a new stake in shares of International General Insurance during the third quarter worth about $265,000. Finally, Interval Partners LP raised its position in shares of International General Insurance by 15.5% during the 2nd quarter. Interval Partners LP now owns 114,650 shares of the company’s stock worth $1,605,000 after purchasing an additional 15,379 shares during the last quarter. 54.24% of the stock is owned by institutional investors and hedge funds.

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.