International General Insurance Holdings Ltd. (NASDAQ:IGIC) Sees Significant Drop in Short Interest

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 129,800 shares, a decrease of 14.8% from the February 13th total of 152,400 shares. Based on an average trading volume of 89,700 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new stake in International General Insurance during the 3rd quarter worth $265,000. Geode Capital Management LLC grew its holdings in shares of International General Insurance by 3.2% during the third quarter. Geode Capital Management LLC now owns 27,877 shares of the company's stock worth $530,000 after purchasing an additional 859 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of International General Insurance during the third quarter worth about $372,000. JPMorgan Chase & Co. boosted its position in shares of International General Insurance by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock valued at $320,000 after purchasing an additional 3,562 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of International General Insurance in the 4th quarter valued at about $60,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

International General Insurance Price Performance

International General Insurance stock traded down $0.78 during mid-day trading on Friday, reaching $26.23. 77,058 shares of the company traded hands, compared to its average volume of 89,196. The firm's fifty day moving average is $25.40 and its two-hundred day moving average is $23.22. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.57 and a beta of 0.26. International General Insurance has a fifty-two week low of $12.83 and a fifty-two week high of $27.76.

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International General Insurance (NASDAQ:IGIC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. As a group, equities research analysts predict that International General Insurance will post 3.18 earnings per share for the current year.

International General Insurance Dividend Announcement

The company also recently declared a -- dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance's dividend payout ratio is currently 3.34%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IGIC. Royal Bank of Canada boosted their target price on shares of International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Oppenheimer lifted their target price on International General Insurance from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th.

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.