International General Insurance (NASDAQ:IGIC) Sets New 12-Month High – Here’s What Happened

International General Insurance Holdings Ltd. (NASDAQ:IGIC) hit a new 52-week high on Wednesday . The company traded as high as $28.62 and last traded at $28.25, with a volume of 150389 shares changing hands. The stock had previously closed at $27.90.

Analyst Ratings Changes

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

International General Insurance Stock Down 0.7%

The firm has a market cap of $1.19 billion, a P/E ratio of 10.11 and a beta of 0.11. The business has a fifty day simple moving average of $25.61 and a 200-day simple moving average of $25.15.

International General Insurance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.075 per share. The ex-dividend date was Thursday, May 28th. This is a positive change from International General Insurance’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 1.1%. International General Insurance’s dividend payout ratio (DPR) is presently 10.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of International General Insurance by 83.4% in the second quarter. JPMorgan Chase & Co. now owns 15,107 shares of the company’s stock worth $363,000 after acquiring an additional 6,872 shares during the period. Raymond James Financial Inc. increased its holdings in International General Insurance by 220.3% during the second quarter. Raymond James Financial Inc. now owns 51,586 shares of the company’s stock valued at $1,239,000 after buying an additional 35,480 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of International General Insurance by 61.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,824 shares of the company’s stock worth $188,000 after purchasing an additional 2,963 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in International General Insurance in the second quarter worth about $233,000. Finally, Shay Capital LLC lifted its position in shares of International General Insurance by 5.4% during the 2nd quarter. Shay Capital LLC now owns 210,250 shares of the company’s stock valued at $5,050,000 after buying an additional 10,823 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

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.