International General Insurance (NASDAQ:IGIC) Sees Strong Trading Volume – Here’s What Happened

International General Insurance Holdings Ltd. (NASDAQ:IGIC) shares saw unusually-high trading volume on Monday . 75,612 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 61,878 shares.The stock last traded at $25.3590 and had previously closed at $24.79.

Analysts Set New Price Targets

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

International General Insurance Stock Performance

The stock has a market capitalization of $1.08 billion, a P/E ratio of 9.08 and a beta of 0.12. The business has a 50 day simple moving average of $25.47 and a 200-day simple moving average of $24.91.

International General Insurance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.075 per share. This is an increase from International General Insurance’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 28th. International General Insurance’s dividend payout ratio (DPR) is 10.83%.

Institutional Investors Weigh In On International General Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of IGIC. Smartleaf Asset Management LLC acquired a new stake in International General Insurance in the 4th quarter valued at about $56,000. State of Wyoming raised its holdings in shares of International General Insurance by 179.2% in the 2nd quarter. State of Wyoming now owns 6,665 shares of the company’s stock worth $160,000 after purchasing an additional 4,278 shares in the last quarter. Osaic Holdings Inc. lifted its stake in International General Insurance by 29.2% during the second quarter. Osaic Holdings Inc. now owns 6,752 shares of the company’s stock valued at $162,000 after purchasing an additional 1,524 shares during the last quarter. Royal Bank of Canada boosted its holdings in International General Insurance by 16.5% during the fourth quarter. Royal Bank of Canada now owns 6,559 shares of the company’s stock worth $165,000 after buying an additional 929 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in International General Insurance by 61.0% in the second quarter. BNP Paribas Financial Markets now owns 7,824 shares of the company’s stock worth $188,000 after buying an additional 2,963 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors.

About International General Insurance

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.