International General Insurance (NASDAQ:IGIC) Trading Up 4.7% After Dividend Announcement

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) traded up 4.7% during trading on Thursday after the company announced a dividend. The stock traded as high as $26.41 and last traded at $26.83. 6,925 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 88,336 shares. The stock had previously closed at $25.63.

The newly announced dividend which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be paid a $0.85 dividend. This represents a yield of 0.4%. The ex-dividend date of this dividend is Friday, April 4th. International General Insurance's payout ratio is 3.34%.

Analyst Ratings Changes

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

International General Insurance Stock Performance

The firm has a 50 day simple moving average of $25.40 and a two-hundred day simple moving average of $23.26. The stock has a market cap of $1.23 billion, a P/E ratio of 8.74 and a beta of 0.26.

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

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new stake in International General Insurance in the fourth quarter worth approximately $60,000. Quantbot Technologies LP acquired a new stake in shares of International General Insurance in the fourth quarter valued at $87,000. PNC Financial Services Group Inc. bought a new position in International General Insurance during the fourth quarter valued at about $95,000. State of Wyoming acquired a new position in International General Insurance during the fourth quarter worth about $107,000. Finally, Geneos Wealth Management Inc. bought a new stake in International General Insurance in the fourth quarter worth about $177,000. 54.24% of the stock is currently owned by institutional investors.

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.