International General Insurance Holdings Ltd. (NASDAQ:IGIC – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.87 and last traded at $10.87, with a volume of 1466 shares traded. The stock had previously closed at $10.60.
Analysts Set New Price Targets
Separately, Royal Bank of Canada upped their target price on International General Insurance from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th.
International General Insurance Stock Up 0.9 %
International General Insurance Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be given a $0.01 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.37%. International General Insurance’s payout ratio is currently 1.60%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of IGIC. Millennium Management LLC acquired a new stake in International General Insurance during the 2nd quarter valued at approximately $79,000. UBS Group AG acquired a new stake in shares of International General Insurance during the fourth quarter worth approximately $28,000. Shay Capital LLC increased its stake in shares of International General Insurance by 8.9% in the second quarter. Shay Capital LLC now owns 308,100 shares of the company’s stock worth $2,754,000 after buying an additional 25,300 shares during the last quarter. Acadian Asset Management LLC raised its holdings in International General Insurance by 52.7% in the second quarter. Acadian Asset Management LLC now owns 11,327 shares of the company’s stock valued at $101,000 after acquiring an additional 3,910 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in International General Insurance by 80.0% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 45,000 shares of the company’s stock valued at $402,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 71.68% of the company’s stock.
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.
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