International General Insurance (NASDAQ:IGIC) Sees Large Volume Increase – Should You Buy?

Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) saw unusually-high trading volume on Wednesday . Approximately 89,305 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 78,496 shares.The stock last traded at $23.99 and had previously closed at $25.05.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their price target on International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

International General Insurance Trading Down 2.0 %

The company has a market capitalization of $1.13 billion, a P/E ratio of 8.19 and a beta of 0.21. The firm’s 50 day moving average price is $20.50 and its two-hundred day moving average price is $17.24.

International General Insurance (NASDAQ:IGIC) last issued 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. The company had revenue of $138.10 million during the quarter. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%.

International General Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Tuesday, December 3rd. International General Insurance’s dividend payout ratio (DPR) is presently 3.27%.

Institutional Trading of International General Insurance

A number of hedge funds have recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. bought a new position in shares of International General Insurance during the 3rd quarter worth about $3,338,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in International General Insurance in the 2nd quarter worth $2,014,000. Sei Investments Co. grew its stake in shares of International General Insurance by 112.5% in the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock worth $3,580,000 after purchasing an additional 135,400 shares during the last quarter. Marshall Wace LLP boosted its position in shares of International General Insurance by 276.8% during the second quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock valued at $1,292,000 after purchasing an additional 67,809 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of International General Insurance by 35.1% during the second quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock valued at $3,095,000 after acquiring an additional 57,399 shares in the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.

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.