International General Insurance Holdings Ltd. (NASDAQ:IGIC) Short Interest Update

International General Insurance Holdings Ltd. (NASDAQ:IGIC) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 118,800 shares, a drop of 33.6% from the November 15th total of 178,800 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily volume of 116,600 shares, the short-interest ratio is presently 1.0 days.

Institutional Investors Weigh In On International General Insurance

Hedge funds have recently added to or reduced their stakes in the business. LSV Asset Management acquired a new position in shares of International General Insurance in the 2nd quarter worth approximately $179,000. Kingsview Wealth Management LLC acquired a new position in shares of International General Insurance in the 3rd quarter worth approximately $265,000. Exchange Traded Concepts LLC acquired a new position in shares of International General Insurance in the 3rd quarter worth approximately $303,000. Victory Capital Management Inc. acquired a new position in shares of International General Insurance in the 2nd quarter worth approximately $229,000. Finally, Tidal Investments LLC acquired a new position in shares of International General Insurance in the 3rd quarter worth approximately $372,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IGIC has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on shares of International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Oppenheimer initiated coverage on shares of International General Insurance in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target on the stock.

International General Insurance Price Performance

NASDAQ:IGIC opened at $24.47 on Friday. The firm’s 50 day simple moving average is $22.96 and its 200 day simple moving average is $18.62. International General Insurance has a one year low of $11.51 and a one year high of $27.00. The company has a market cap of $1.12 billion, a PE ratio of 8.00 and a beta of 0.25.

International General Insurance (NASDAQ:IGIC) last posted its earnings results on Tuesday, November 5th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The business had revenue of $138.10 million for the quarter. Equities research analysts expect that International General Insurance will post 2.91 EPS for the current year.

International General Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.10 annualized dividend and a yield of 0.41%. International General Insurance’s dividend payout ratio is presently 3.27%.

International General Insurance Company Profile

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.