International General Insurance (NASDAQ:IGIC) Sees Strong Trading Volume – Time to Buy?

International General Insurance Holdings Ltd. (NASDAQ:IGIC) shares saw an uptick in trading volume on Monday . 75,212 shares were traded during mid-day 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.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their target price 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 Up 0.7 %

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 8.78 and a beta of 0.23. The company’s fifty day moving average is $18.76 and its 200 day moving average is $16.16.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data 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. International General Insurance had a return on equity of 25.74% and a net margin of 23.40%. The company had revenue of $135.60 million during the quarter.

International General Insurance Announces Dividend

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

Institutional Investors Weigh In On International General Insurance

Large investors have recently made changes to their positions in the stock. Sei Investments Co. raised its position in International General Insurance by 112.5% during the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock worth $3,580,000 after acquiring an additional 135,400 shares in the last quarter. Acadian Asset Management LLC raised its holdings 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 period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in International General Insurance by 31.6% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,300 shares of the company’s stock valued at $3,597,000 after purchasing an additional 45,455 shares during the last quarter. Interval Partners LP grew its holdings in International General Insurance by 15.5% during the second quarter. Interval Partners LP now owns 114,650 shares of the company’s stock worth $1,605,000 after purchasing an additional 15,379 shares during the period. Finally, Marshall Wace LLP increased its position in International General Insurance by 276.8% during the second quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock worth $1,292,000 after buying an additional 67,809 shares during the last quarter. 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.