International General Insurance (NASDAQ:IGIC) Sees Unusually-High Trading Volume – Should You Buy?

Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) saw unusually-high trading volume on Thursday . Approximately 133,231 shares were traded during mid-day trading, an increase of 124% from the previous session’s volume of 59,560 shares.The stock last traded at $25.34 and had previously closed at $25.24.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of International General Insurance from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, International General Insurance currently has an average rating of “Buy” and a consensus price target of $28.00.

International General Insurance Trading Up 1.7%

The stock’s 50-day moving average is $25.46 and its 200-day moving average is $24.85. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.31 and a beta of 0.12.

International General Insurance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, May 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.2%. This is a positive change from International General Insurance’s previous quarterly dividend of $0.05. International General Insurance’s dividend payout ratio is currently 10.83%.

Hedge Funds Weigh In On International General Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC acquired a new position in International General Insurance in the 4th quarter valued at approximately $56,000. Royal Bank of Canada increased its position in International General Insurance by 16.5% in the 4th quarter. Royal Bank of Canada now owns 6,559 shares of the company’s stock valued at $165,000 after acquiring an additional 929 shares during the period. State of Wyoming increased its position in International General Insurance by 179.2% in the 2nd quarter. State of Wyoming now owns 6,665 shares of the company’s stock valued at $160,000 after acquiring an additional 4,278 shares during the period. Osaic Holdings Inc. increased its position in International General Insurance by 29.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,752 shares of the company’s stock valued at $162,000 after acquiring an additional 1,524 shares during the period. Finally, BNP Paribas Financial Markets increased its position in International General Insurance by 61.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,824 shares of the company’s stock valued at $188,000 after acquiring an additional 2,963 shares during the period. 54.24% of the stock is currently owned by institutional investors and hedge funds.

International General Insurance Company Profile

International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.