International General Insurance (NASDAQ:IGIC) Reaches New 52-Week High – What’s Next?

International General Insurance Holdings Ltd. (NASDAQ:IGIC)’s share price hit a new 52-week high on Tuesday . The company traded as high as $27.11 and last traded at $26.91, with a volume of 4755 shares changing hands. The stock had previously closed at $26.77.

Analyst Ratings Changes

A number of analysts recently weighed in on IGIC shares. Royal Bank of Canada raised their price target on shares of International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Oppenheimer initiated coverage on shares of International General Insurance in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 target price for the company.

International General Insurance Trading Up 2.2 %

The business’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $21.76. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 8.94 and a beta of 0.27.

Institutional Trading of International General Insurance

A number of institutional investors have recently bought and sold shares of the business. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in International General Insurance by 0.3% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company’s stock worth $4,510,000 after acquiring an additional 525 shares during the period. Geode Capital Management LLC boosted its position in shares of International General Insurance by 3.2% during the third quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock worth $530,000 after purchasing an additional 859 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of International General Insurance by 5.4% during the fourth quarter. Lazard Asset Management LLC now owns 22,559 shares of the company’s stock worth $536,000 after purchasing an additional 1,152 shares in the last quarter. Tidal Investments LLC boosted its position in shares of International General Insurance by 9.1% during the fourth quarter. Tidal Investments LLC now owns 21,363 shares of the company’s stock worth $508,000 after purchasing an additional 1,778 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of International General Insurance during the fourth quarter worth $60,000. Institutional investors and hedge funds 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.