International General Insurance (NASDAQ:IGIC) Sees Unusually-High Trading Volume - Here's Why

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 75,212 shares traded hands during trading, an increase of 8% from the previous session's volume of 69,356 shares.The stock last traded at $22.40 and had previously closed at $21.10.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their price target on International General Insurance from $17.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th.

International General Insurance Stock Performance

The company has a 50 day simple moving average of $18.53 and a two-hundred day simple moving average of $16.03. The firm has a market cap of $1.02 billion, a PE ratio of 8.78 and a beta of 0.23.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.12. The business had revenue of $135.60 million for the quarter. International General Insurance had a return on equity of 25.74% and a net margin of 23.40%.

International General Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Monday, September 2nd were issued a $0.025 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.45%. International General Insurance's dividend payout ratio (DPR) is presently 3.92%.

Hedge Funds Weigh In On International General Insurance

Several institutional investors and hedge funds have recently modified their holdings of IGIC. Simplicity Wealth LLC acquired a new position in shares of International General Insurance in the 2nd quarter valued at about $152,000. LSV Asset Management purchased a new stake in shares of International General Insurance in the second quarter valued at approximately $179,000. Virtu Financial LLC purchased a new stake in shares of International General Insurance in the first quarter valued at approximately $209,000. Victory Capital Management Inc. purchased a new stake in shares of International General Insurance in the second quarter valued at approximately $229,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of International General Insurance in the third quarter valued at approximately $303,000. 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.