International General Insurance Holdings Ltd. (NASDAQ:IGIC – Get Free Report) shares saw an uptick in trading volume on Monday . Approximately 75,612 shares changed hands during mid-day trading, an increase of 22% from the previous session’s volume of 61,878 shares.The stock last traded at $25.3590 and had previously closed at $24.79.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded shares of International General Insurance from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $28.00.
View Our Latest Stock Analysis on IGIC
International General Insurance Price Performance
International General Insurance Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 28th. This is an increase from International General Insurance’s previous quarterly dividend of $0.05. International General Insurance’s dividend payout ratio (DPR) is presently 10.83%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP increased its holdings in shares of International General Insurance by 3.3% during the third quarter. Royce & Associates LP now owns 3,173,626 shares of the company’s stock valued at $73,628,000 after purchasing an additional 100,464 shares during the period. Russell Investments Group Ltd. lifted its holdings in International General Insurance by 0.4% in the fourth quarter. Russell Investments Group Ltd. now owns 396,512 shares of the company’s stock worth $9,948,000 after purchasing an additional 1,661 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in International General Insurance by 35.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 370,316 shares of the company’s stock worth $9,291,000 after purchasing an additional 96,536 shares during the period. Shay Capital LLC grew its position in International General Insurance by 13.1% in the 3rd quarter. Shay Capital LLC now owns 237,694 shares of the company’s stock valued at $5,515,000 after buying an additional 27,444 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its position in International General Insurance by 3.4% in the 4th quarter. CWA Asset Management Group LLC now owns 85,104 shares of the company’s stock valued at $2,135,000 after buying an additional 2,817 shares in the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.
International General Insurance Company Profile
International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.
Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.
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