International General Insurance (NASDAQ:IGIC) Sets New 12-Month High – Time to Buy?

International General Insurance Holdings Ltd. (NASDAQ:IGIC)’s stock price reached a new 52-week high on Monday . The company traded as high as $25.50 and last traded at $25.50, with a volume of 371 shares traded. The stock had previously closed at $24.73.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada increased their price target on shares of International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

International General Insurance Stock Performance

The stock has a market capitalization of $1.15 billion, a P/E ratio of 8.19 and a beta of 0.21. The business has a 50-day moving average price of $20.50 and a 200 day moving average price of $17.24.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The business had revenue of $138.10 million during the quarter.

International General Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, December 3rd. International General Insurance’s dividend payout ratio (DPR) is 3.27%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in shares of International General Insurance by 198.4% during the first quarter. Sei Investments Co. now owns 120,319 shares of the company’s stock valued at $1,629,000 after acquiring an additional 80,000 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of International General Insurance by 35.8% in the 1st quarter. Acadian Asset Management LLC now owns 163,721 shares of the company’s stock worth $2,216,000 after purchasing an additional 43,204 shares in the last quarter. PEAK6 Investments LLC increased its holdings in shares of International General Insurance by 33.8% in the 1st quarter. PEAK6 Investments LLC now owns 39,927 shares of the company’s stock worth $541,000 after purchasing an additional 10,083 shares in the last quarter. Virtu Financial LLC bought a new position in shares of International General Insurance during the first quarter valued at $209,000. Finally, Simplicity Wealth LLC bought a new position in shares of International General Insurance during the second quarter valued at $152,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

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.