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

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 118,800 shares, a drop of 33.6% from the November 15th total of 178,800 shares. Based on an average daily volume of 116,600 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

IGIC has been the subject of a number of research analyst reports. Oppenheimer assumed coverage on International General Insurance in a report on Thursday, November 21st. They set an "outperform" rating and a $30.00 price target for the company. Royal Bank of Canada raised 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 report on Thursday, November 7th.

International General Insurance Stock Performance

NASDAQ IGIC traded up $0.15 during trading hours on Friday, hitting $24.47. 66,264 shares of the company traded hands, compared to its average volume of 81,988. The business's 50-day moving average is $22.96 and its 200-day moving average is $18.59. The stock has a market capitalization of $1.12 billion, a price-to-earnings 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 - Get Free Report) last issued 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 for the quarter. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. Analysts predict that International General Insurance will post 2.91 EPS for the current year.

International General Insurance Dividend Announcement

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

Institutional Investors Weigh In On International General Insurance

Several hedge funds have recently added to or reduced their stakes in the business. LSV Asset Management bought a new position in shares of International General Insurance in the second quarter valued at about $179,000. Victory Capital Management Inc. bought a new position in International General Insurance in the 2nd quarter valued at about $229,000. Kingsview Wealth Management LLC bought a new position in International General Insurance in the 3rd quarter valued at about $265,000. Exchange Traded Concepts LLC acquired a new stake in International General Insurance during the third quarter worth approximately $303,000. Finally, Tidal Investments LLC bought a new stake in shares of International General Insurance during the third quarter worth approximately $372,000. Institutional investors and hedge funds 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.