International General Insurance (NASDAQ:IGIC) Sees Unusually-High Trading Volume – Should You Buy?

Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) saw an uptick in trading volume on Friday . 50,534 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 61,672 shares.The stock last traded at $23.6950 and had previously closed at $23.72.

Analysts Set New Price Targets

A number of research firms have weighed in on IGIC. Weiss Ratings reissued a “buy (b)” rating on shares of International General Insurance in a research report on Thursday, January 22nd. Royal Bank Of Canada initiated coverage on shares of International General Insurance in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $28.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, International General Insurance presently has an average rating of “Buy” and an average target price of $28.00.

International General Insurance Stock Performance

The business has a 50 day moving average price of $24.74 and a 200-day moving average price of $24.03. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.23 and a beta of 0.15.

International General Insurance (NASDAQ:IGIC) last issued its earnings results on Tuesday, February 24th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. International General Insurance had a return on equity of 16.98% and a net margin of 24.61%.The business had revenue of $126.40 million during the quarter, compared to the consensus estimate of $116.40 million. As a group, equities analysts predict that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.

International General Insurance Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, April 6th. Stockholders of record on Wednesday, March 18th will be paid a $1.15 dividend. The ex-dividend date is Wednesday, March 18th. This represents a dividend yield of 460.0%. International General Insurance’s payout ratio is currently 6.97%.

Institutional Investors Weigh In On International General Insurance

A number of large investors have recently bought and sold shares of IGIC. PNC Financial Services Group Inc. raised its holdings in shares of International General Insurance by 93.3% during the second quarter. PNC Financial Services Group Inc. now owns 12,000 shares of the company’s stock valued at $288,000 after purchasing an additional 5,792 shares during the period. JPMorgan Chase & Co. increased its position in International General Insurance by 83.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,107 shares of the company’s stock valued at $363,000 after buying an additional 6,872 shares in the last quarter. Franklin Resources Inc. raised its stake in International General Insurance by 5.8% during the 2nd quarter. Franklin Resources Inc. now owns 38,030 shares of the company’s stock worth $913,000 after buying an additional 2,085 shares during the period. Quantbot Technologies LP raised its stake in International General Insurance by 430.1% during the 2nd quarter. Quantbot Technologies LP now owns 19,549 shares of the company’s stock worth $470,000 after buying an additional 15,861 shares during the period. Finally, Beacon Pointe Advisors LLC boosted its holdings in International General Insurance by 18.8% in the second quarter. Beacon Pointe Advisors LLC now owns 29,530 shares of the company’s stock worth $709,000 after acquiring an additional 4,682 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors and hedge funds.

International General Insurance Company Profile

International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.