International General Insurance (NASDAQ:IGIC) Sees Large Volume Increase

International General Insurance Holdings Ltd. (NASDAQ:IGIC) shares saw an uptick in trading volume on Wednesday . 117,752 shares traded hands during mid-day trading, an increase of 113% from the previous session’s volume of 55,300 shares.The stock last traded at $13.79 and had previously closed at $13.07.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada restated an “outperform” rating and issued a $15.00 price objective on shares of International General Insurance in a research note on Thursday, March 14th.

International General Insurance Stock Up 5.0 %

The stock has a market capitalization of $645.25 million, a PE ratio of 5.44 and a beta of 0.16. The firm has a 50 day moving average price of $13.03 and a 200-day moving average price of $12.20.

International General Insurance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 1st will be given a dividend of $0.51 per share. This is a boost from International General Insurance’s previous quarterly dividend of $0.01. This represents a $2.04 annualized dividend and a yield of 14.87%. The ex-dividend date of this dividend is Thursday, March 28th. International General Insurance’s dividend payout ratio (DPR) is currently 1.57%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IGIC. Quadrature Capital Ltd increased its position in shares of International General Insurance by 27.7% in the fourth quarter. Quadrature Capital Ltd now owns 120,636 shares of the company’s stock valued at $1,554,000 after buying an additional 26,190 shares in the last quarter. New Vernon Investment Management LLC acquired a new stake in shares of International General Insurance in the fourth quarter worth approximately $1,454,000. Royal Bank of Canada boosted its stake in shares of International General Insurance by 13.4% in the fourth quarter. Royal Bank of Canada now owns 54,015 shares of the company’s stock worth $696,000 after acquiring an additional 6,364 shares during the last quarter. PEAK6 Investments LLC boosted its stake in shares of International General Insurance by 750.8% in the fourth quarter. PEAK6 Investments LLC now owns 29,844 shares of the company’s stock worth $384,000 after acquiring an additional 34,430 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of International General Insurance by 10.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,486 shares of the company’s stock worth $354,000 after acquiring an additional 2,510 shares during the last quarter. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

International General Insurance Company Profile

International General Insurance Holdings Ltd. provides specialty insurance and reinsurance solutions worldwide. It operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. The company underwrites a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, marine, contingency, treaty, and casualty reinsurance.