International General Insurance (NASDAQ:IGIC) Hits New 1-Year High at $18.84

International General Insurance Holdings Ltd. (NASDAQ:IGIC)’s share price reached a new 52-week high on Thursday . The stock traded as high as $18.84 and last traded at $18.84, with a volume of 17625 shares changing hands. The stock had previously closed at $18.28.

Wall Street Analyst Weigh In

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

International General Insurance Stock Performance

The company has a market cap of $880.93 million, a PE ratio of 7.08 and a beta of 0.23. The company’s 50-day simple moving average is $17.06 and its 200 day simple moving average is $14.96.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.74 earnings per share (EPS) 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 net margin of 23.40% and a return on equity of 25.74%.

International General Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Monday, September 2nd were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Friday, August 30th. International General Insurance’s payout ratio is 3.70%.

Hedge Funds Weigh In On International General Insurance

Several institutional investors and hedge funds have recently modified their holdings of the company. Simplicity Wealth LLC acquired a new position in International General Insurance during the second quarter worth approximately $152,000. LSV Asset Management acquired a new position in International General Insurance during the second quarter worth approximately $179,000. Virtu Financial LLC acquired a new position in International General Insurance during the first quarter worth approximately $209,000. Victory Capital Management Inc. acquired a new position in International General Insurance during the second quarter worth approximately $229,000. Finally, Mackenzie Financial Corp acquired a new position in International General Insurance during the second quarter worth approximately $411,000. Hedge funds and other institutional investors 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.