International General Insurance (NASDAQ:IGIC) Hits New 12-Month High at $14.30

International General Insurance Holdings Ltd. (NASDAQ:IGIC)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $14.30 and last traded at $14.30, with a volume of 335 shares traded. The stock had previously closed at $13.62.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada restated an “outperform” rating and set a $15.00 price target on shares of International General Insurance in a report on Thursday, March 14th.

International General Insurance Price Performance

The company has a market cap of $644.98 million, a PE ratio of 5.34 and a beta of 0.20. The company has a 50-day moving average of $13.21 and a 200 day moving average of $12.67.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.65 earnings per share (EPS) for the quarter. International General Insurance had a return on equity of 28.04% and a net margin of 25.06%. The company had revenue of $122.80 million during the quarter.

International General Insurance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 1st were paid a dividend of $0.51 per share. This is a boost from International General Insurance’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.57%. International General Insurance’s dividend payout ratio is currently 1.57%.

Institutional Trading of International General Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought a new stake in International General Insurance during the 3rd quarter valued at about $142,000. Atria Wealth Solutions Inc. boosted its holdings in shares of International General Insurance by 46.7% in the third quarter. Atria Wealth Solutions Inc. now owns 66,000 shares of the company’s stock valued at $744,000 after purchasing an additional 21,000 shares during the period. Acadian Asset Management LLC raised its position in International General Insurance by 492.4% during the 3rd quarter. Acadian Asset Management LLC now owns 67,102 shares of the company’s stock valued at $756,000 after purchasing an additional 55,775 shares in the last quarter. Navellier & Associates Inc. purchased a new stake in shares of International General Insurance in the 4th quarter worth $761,000. Finally, Boston Partners bought a new position in shares of International General Insurance during the 4th quarter worth $780,000. Hedge funds and other institutional investors 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.