International General Insurance (NASDAQ:IGIC) Hits New 12-Month High at $14.30

International General Insurance Holdings Ltd. (NASDAQ:IGIC)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $14.30 and last traded at $14.30, with a volume of 335 shares traded. The stock had previously closed at $13.62.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price objective on shares of International General Insurance in a research note on Thursday, March 14th.

International General Insurance Price Performance

The firm has a market capitalization of $669.86 million, a price-to-earnings ratio of 5.70 and a beta of 0.20. The business has a fifty day moving average price of $13.25 and a two-hundred day moving average price of $12.70.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.65 earnings per share for the quarter. International General Insurance had a net margin of 25.06% and a return on equity of 28.04%. The company had revenue of $122.80 million for the quarter.

International General Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 14.03%. This is a positive change from International General Insurance’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, March 28th. International General Insurance’s dividend payout ratio is presently 1.57%.

Hedge Funds Weigh In On International General Insurance

A number of institutional investors have recently modified their holdings of the stock. Jump Financial LLC purchased a new stake in shares of International General Insurance in the third quarter valued at approximately $142,000. Atria Wealth Solutions Inc. grew its position in International General Insurance by 46.7% in the third quarter. Atria Wealth Solutions Inc. now owns 66,000 shares of the company’s stock worth $744,000 after acquiring an additional 21,000 shares during the period. Acadian Asset Management LLC raised its holdings in International General Insurance by 492.4% in the 3rd quarter. Acadian Asset Management LLC now owns 67,102 shares of the company’s stock valued at $756,000 after buying an additional 55,775 shares during the period. Navellier & Associates Inc. acquired a new position in International General Insurance during the fourth quarter worth $761,000. Finally, Boston Partners acquired a new stake in shares of International General Insurance during the fourth quarter worth about $780,000. Hedge funds and other institutional investors 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.