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

International General Insurance Holdings Ltd. (NASDAQ:IGIC) shares saw strong trading volume on Monday . Approximately 75,612 shares changed hands during mid-day trading, an increase of 22% from the previous session’s volume of 61,878 shares.The stock last traded at $25.3590 and had previously closed at $24.79.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded International General Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, International General Insurance presently has a consensus rating of “Buy” and a consensus price target of $28.00.

International General Insurance Trading Up 2.0%

The firm has a market cap of $1.08 billion, a P/E ratio of 9.08 and a beta of 0.12. The business’s 50-day moving average is $25.47 and its two-hundred day moving average is $24.91.

International General Insurance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were given a dividend of $0.075 per share. The ex-dividend date was Thursday, May 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.2%. This is an increase from International General Insurance’s previous quarterly dividend of $0.05. International General Insurance’s payout ratio is presently 10.83%.

Institutional Investors Weigh In On International General Insurance

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC bought a new position in shares of International General Insurance during the fourth quarter worth about $56,000. State of Wyoming boosted its stake in International General Insurance by 179.2% during the 2nd quarter. State of Wyoming now owns 6,665 shares of the company’s stock valued at $160,000 after purchasing an additional 4,278 shares during the period. Osaic Holdings Inc. boosted its stake in International General Insurance by 29.2% during the 2nd quarter. Osaic Holdings Inc. now owns 6,752 shares of the company’s stock valued at $162,000 after purchasing an additional 1,524 shares during the period. Royal Bank of Canada grew its position in International General Insurance by 16.5% in the 4th quarter. Royal Bank of Canada now owns 6,559 shares of the company’s stock worth $165,000 after purchasing an additional 929 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of International General Insurance by 61.0% during the second quarter. BNP Paribas Financial Markets now owns 7,824 shares of the company’s stock worth $188,000 after buying an additional 2,963 shares during the period. 54.24% of the stock is currently owned by institutional investors.

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.