International General Insurance (NASDAQ:IGIC - Free Report) had its target price lifted by Royal Bank of Canada from $22.00 to $26.00 in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
International General Insurance Price Performance
Shares of NASDAQ IGIC traded up $1.36 during trading on Thursday, reaching $24.10. 299,494 shares of the stock traded hands, compared to its average volume of 76,035. The stock has a market capitalization of $1.11 billion, a P/E ratio of 7.85 and a beta of 0.21. International General Insurance has a 52-week low of $10.83 and a 52-week high of $25.50. The company has a 50-day moving average of $19.31 and a 200-day moving average of $16.50.
International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 23.40% and a return on equity of 25.74%.
International General Insurance Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, September 2nd were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, August 30th. International General Insurance's payout ratio is 3.27%.
Institutional Trading of International General Insurance
Institutional investors and hedge funds have recently modified their holdings of the business. Simplicity Wealth LLC purchased a new stake in International General Insurance in the second quarter valued at approximately $152,000. LSV Asset Management bought a new stake in shares of International General Insurance during the 2nd quarter worth $179,000. Virtu Financial LLC bought a new stake in shares of International General Insurance during the 1st quarter worth $209,000. Victory Capital Management Inc. purchased a new position in International General Insurance in the second quarter worth $229,000. Finally, Exchange Traded Concepts LLC bought a new position in International General Insurance in the third quarter valued at $303,000. Hedge funds and other institutional investors own 54.24% of the company's stock.
About International General Insurance
(
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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.
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