International General Insurance Holdings Ltd. (NASDAQ:IGIC – Get Free Report) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 20,400 shares, a decline of 8.1% from the July 15th total of 22,200 shares. Based on an average trading volume of 72,700 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.
Analyst Ratings Changes
Separately, Royal Bank of Canada boosted their target price on shares of International General Insurance from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, August 8th.
View Our Latest Research Report on International General Insurance
Institutional Inflows and Outflows
International General Insurance Price Performance
Shares of IGIC stock opened at $16.61 on Tuesday. The company’s fifty day simple moving average is $15.36 and its two-hundred day simple moving average is $14.14. International General Insurance has a 1 year low of $10.18 and a 1 year high of $17.97. The stock has a market capitalization of $765.29 million, a price-to-earnings ratio of 6.15 and a beta of 0.22.
International General Insurance (NASDAQ:IGIC – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. International General Insurance had a net margin of 23.40% and a return on equity of 25.74%. The business had revenue of $135.60 million for the quarter.
International General Insurance Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Monday, September 2nd will be issued a $0.025 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.60%. International General Insurance’s payout ratio is currently 3.70%.
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.
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