International General Insurance (NASDAQ:IGIC) Sees Strong Trading Volume – Still a Buy?

International General Insurance Holdings Ltd. (NASDAQ:IGIC) shares saw unusually-high trading volume on Monday . Approximately 175,156 shares were traded during trading, an increase of 68% from the previous session’s volume of 104,275 shares.The stock last traded at $23.54 and had previously closed at $23.90.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank of Canada increased 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. Oppenheimer assumed coverage on International General Insurance in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target on the stock.

International General Insurance Stock Performance

The firm has a market cap of $1.10 billion, a PE ratio of 7.79 and a beta of 0.27. The firm’s 50 day moving average price is $24.33 and its two-hundred day moving average price is $19.67.

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

International General Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a $0.025 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.10 annualized dividend and a yield of 0.42%. International General Insurance’s dividend payout ratio (DPR) is currently 3.27%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IGIC. 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 International General Insurance during the third quarter worth $265,000. Exchange Traded Concepts LLC purchased a new position in shares of International General Insurance during the third quarter worth $303,000. Victory Capital Management Inc. acquired a new stake in shares of International General Insurance in the second quarter valued at $229,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of International General Insurance by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company’s stock valued at $320,000 after buying an additional 3,562 shares during the period. 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.