International General Insurance Holdings Ltd. Plans Annual Dividend of $1.15 (NASDAQ:IGIC)

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced an annual dividend on Wednesday, February 25th. Shareholders of record on Wednesday, March 18th will be paid a dividend of 1.15 per share on Monday, April 6th. This represents a yield of 460.0%. The ex-dividend date is Wednesday, March 18th.

International General Insurance has a payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International General Insurance to earn $3.03 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.6%.

International General Insurance Stock Down 0.7%

IGIC traded down $0.18 during trading on Wednesday, hitting $25.20. The company’s stock had a trading volume of 129,504 shares, compared to its average volume of 63,711. The business’s 50 day simple moving average is $24.88 and its 200-day simple moving average is $24.00. The firm has a market cap of $1.12 billion, a PE ratio of 9.13 and a beta of 0.15. International General Insurance has a one year low of $20.82 and a one year high of $27.76.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The firm had revenue of $126.40 million during the quarter, compared to analyst estimates of $116.40 million. International General Insurance had a return on equity of 18.36% and a net margin of 23.76%. Equities research analysts expect that International General Insurance will post 3.18 EPS for the current fiscal year.

Institutional Investors Weigh In On International General Insurance

Institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP boosted its position in shares of International General Insurance by 3.3% during the third quarter. Royce & Associates LP now owns 3,173,626 shares of the company’s stock worth $73,628,000 after acquiring an additional 100,464 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of International General Insurance by 35.3% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 370,316 shares of the company’s stock valued at $9,291,000 after purchasing an additional 96,536 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of International General Insurance by 220.3% in the second quarter. Raymond James Financial Inc. now owns 51,586 shares of the company’s stock worth $1,239,000 after purchasing an additional 35,480 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of International General Insurance in the fourth quarter worth about $810,000. Finally, Goldman Sachs Group Inc. grew its holdings in International General Insurance by 214.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 46,436 shares of the company’s stock valued at $1,165,000 after buying an additional 31,675 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

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.