International General Insurance (NASDAQ:IGIC) Hits New 12-Month High - Should You Buy?

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $27.11 and last traded at $26.91, with a volume of 4755 shares changing hands. The stock had previously closed at $26.77.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Oppenheimer started 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 target for the company. Royal Bank of Canada upped their target price on International General Insurance from $22.00 to $26.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th.

International General Insurance Price Performance

The business has a fifty day moving average of $24.74 and a 200-day moving average of $21.98. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.48 and a beta of 0.27.

Hedge Funds Weigh In On International General Insurance

Several hedge funds have recently made changes to their positions in the business. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in International General Insurance by 0.3% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company's stock valued at $4,510,000 after purchasing an additional 525 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of International General Insurance by 3.2% in the third quarter. Geode Capital Management LLC now owns 27,877 shares of the company's stock valued at $530,000 after buying an additional 859 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of International General Insurance by 5.4% during the 4th quarter. Lazard Asset Management LLC now owns 22,559 shares of the company's stock valued at $536,000 after acquiring an additional 1,152 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of International General Insurance by 9.1% during the 4th quarter. Tidal Investments LLC now owns 21,363 shares of the company's stock worth $508,000 after acquiring an additional 1,778 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of International General Insurance in the 4th quarter worth $60,000. 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.