International General Insurance Holdings Ltd. (NASDAQ:IGIC) Short Interest Down 14.8% in February

International General Insurance Holdings Ltd. (NASDAQ:IGIC) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 129,800 shares, a decline of 14.8% from the February 13th total of 152,400 shares. Based on an average daily trading volume, of 89,700 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.8% of the shares of the stock are sold short.

Institutional Trading of International General Insurance

A number of institutional investors have recently made changes to their positions in IGIC. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in International General Insurance by 0.3% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company’s stock worth $4,510,000 after buying an additional 525 shares during the last quarter. Geode Capital Management LLC boosted its stake in International General Insurance by 3.2% during the third quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock worth $530,000 after buying an additional 859 shares during the last quarter. Lazard Asset Management LLC boosted its stake in International General Insurance by 5.4% during the fourth quarter. Lazard Asset Management LLC now owns 22,559 shares of the company’s stock worth $536,000 after buying an additional 1,152 shares during the last quarter. Tidal Investments LLC boosted its stake in International General Insurance by 9.1% during the fourth quarter. Tidal Investments LLC now owns 21,363 shares of the company’s stock worth $508,000 after buying an additional 1,778 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in International General Insurance during the fourth quarter worth $60,000. 54.24% of the stock is owned by institutional investors and hedge funds.

International General Insurance Stock Performance

Shares of NASDAQ:IGIC traded down $0.28 during trading on Wednesday, reaching $25.22. The stock had a trading volume of 8,220 shares, compared to its average volume of 88,337. The business has a fifty day moving average price of $25.25 and a 200-day moving average price of $23.09. The stock has a market cap of $1.16 billion, a PE ratio of 8.27 and a beta of 0.26. International General Insurance has a 1-year low of $12.82 and a 1-year high of $27.76.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. Sell-side analysts expect that International General Insurance will post 3.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IGIC. Oppenheimer boosted their price objective on International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Royal Bank of Canada boosted their price objective on International General Insurance from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th.

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.