International General Insurance Holdings Ltd. (IGIC) to Issue Quarterly Dividend of $0.05 on March 31st

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced a quarterly dividend on Saturday, February 21st. Stockholders of record on Friday, March 13th will be given a dividend of 0.05 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, March 13th.

International General Insurance has raised its dividend payment by an average of 0.6%per year over the last three years and has raised its dividend every year for the last 2 years. International General Insurance has a dividend payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect International General Insurance to earn $3.03 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.6%.

International General Insurance Trading Up 0.5%

NASDAQ IGIC opened at $24.23 on Wednesday. International General Insurance has a 1-year low of $20.82 and a 1-year high of $27.63. The firm’s fifty day simple moving average is $24.79 and its 200-day simple moving average is $24.03. The company has a market capitalization of $1.08 billion, a PE ratio of 8.44 and a beta of 0.15.

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

Institutional Investors Weigh In On International General Insurance

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of International General Insurance during the fourth quarter worth $291,000. Millennium Management LLC increased its holdings in International General Insurance by 138.7% in the 4th quarter. Millennium Management LLC now owns 21,938 shares of the company’s stock worth $550,000 after acquiring an additional 12,746 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of International General Insurance during the 4th quarter worth about $810,000. Trexquant Investment LP lifted its position in shares of International General Insurance by 25.0% in the fourth quarter. Trexquant Investment LP now owns 38,532 shares of the company’s stock valued at $967,000 after acquiring an additional 7,713 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in International General Insurance by 11.3% in the 4th quarter. Osaic Holdings Inc. now owns 7,135 shares of the company’s stock valued at $179,000 after purchasing an additional 722 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

About International General Insurance

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.