International General Insurance (NASDAQ:IGIC) Hits New 12-Month High - What's Next?

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $19.69 and last traded at $19.69, with a volume of 63462 shares. The stock had previously closed at $19.11.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lifted their price objective on shares of International General Insurance from $17.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th.

International General Insurance Trading Up 3.1 %

The stock has a market capitalization of $905.67 million, a PE ratio of 7.73 and a beta of 0.23. The firm's 50-day simple moving average is $18.38 and its two-hundred day simple moving average is $15.92.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.12. The firm had revenue of $135.60 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 business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, August 30th. International General Insurance's dividend payout ratio (DPR) is currently 3.92%.

Institutional Investors Weigh In On International General Insurance

A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its stake in shares of International General Insurance by 112.5% during the 2nd quarter. Sei Investments Co. now owns 255,719 shares of the company's stock valued at $3,580,000 after buying an additional 135,400 shares during the period. Acadian Asset Management LLC lifted its stake in shares of International General Insurance by 35.1% in the 2nd quarter. Acadian Asset Management LLC now owns 221,120 shares of the company's stock valued at $3,095,000 after purchasing an additional 57,399 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of International General Insurance in the 2nd quarter valued at $2,014,000. Interval Partners LP lifted its stake in shares of International General Insurance by 15.5% in the 2nd quarter. Interval Partners LP now owns 114,650 shares of the company's stock valued at $1,605,000 after purchasing an additional 15,379 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of International General Insurance by 276.8% in the 2nd quarter. Marshall Wace LLP now owns 92,308 shares of the company's stock valued at $1,292,000 after purchasing an additional 67,809 shares during the last quarter. Institutional investors and hedge funds own 54.24% of the company's stock.

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.