Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC – Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $28.90 and last traded at $28.8530, with a volume of 42761 shares traded. The stock had previously closed at $27.81.
Wall Street Analysts Forecast Growth
IGIC has been the topic of a number of recent research reports. Zacks Research lowered International General Insurance from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Royal Bank Of Canada upped their price target on shares of International General Insurance from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, Weiss Ratings cut shares of International General Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, International General Insurance presently has a consensus rating of “Hold” and a consensus target price of $30.00.
Read Our Latest Stock Report on International General Insurance
International General Insurance Trading Up 3.5%
International General Insurance Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.075 dividend. This is a boost from International General Insurance’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, May 28th. International General Insurance’s dividend payout ratio (DPR) is presently 10.83%.
Institutional Investors Weigh In On International General Insurance
A number of institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC purchased a new position in shares of International General Insurance in the fourth quarter valued at $56,000. State of Wyoming lifted its stake in shares of International General Insurance by 179.2% during the second quarter. State of Wyoming now owns 6,665 shares of the company’s stock valued at $160,000 after buying an additional 4,278 shares during the period. Osaic Holdings Inc. grew its position in shares of International General Insurance by 29.2% in the second quarter. Osaic Holdings Inc. now owns 6,752 shares of the company’s stock valued at $162,000 after purchasing an additional 1,524 shares during the period. Royal Bank of Canada increased its stake in shares of International General Insurance by 16.5% during the 4th quarter. Royal Bank of Canada now owns 6,559 shares of the company’s stock valued at $165,000 after acquiring an additional 929 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in International General Insurance by 61.0% during the second quarter. BNP Paribas Financial Markets now owns 7,824 shares of the company’s stock worth $188,000 after purchasing an additional 2,963 shares during the last quarter. Hedge funds and other institutional investors own 54.24% of the company’s stock.
About International General Insurance
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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