International General Insurance (NASDAQ:IGIC) Hits New 12-Month High at $18.84

International General Insurance Holdings Ltd. (NASDAQ:IGIC)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $18.84 and last traded at $18.84, with a volume of 17625 shares trading hands. The stock had previously closed at $18.28.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their price objective on shares of International General Insurance from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th.

International General Insurance Stock Up 3.7 %

The company has a market cap of $873.56 million, a PE ratio of 6.84 and a beta of 0.23. The firm has a fifty day simple moving average of $16.89 and a 200-day simple moving average of $14.88.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The company had revenue of $135.60 million during the quarter. International General Insurance had a return on equity of 25.74% and a net margin of 23.40%.

International General Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, September 2nd were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, August 30th. International General Insurance’s payout ratio is currently 3.70%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Simplicity Wealth LLC acquired a new stake in shares of International General Insurance in the 2nd quarter worth $152,000. LSV Asset Management purchased a new stake in International General Insurance in the 2nd quarter valued at approximately $179,000. Virtu Financial LLC purchased a new stake in International General Insurance in the 1st quarter valued at approximately $209,000. Victory Capital Management Inc. acquired a new position in International General Insurance during the 2nd quarter worth approximately $229,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of International General Insurance in the 2nd quarter valued at approximately $411,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

About International General Insurance

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.