International General Insurance (NASDAQ:IGIC) Shares Gap Up to $13.21

International General Insurance Holdings Ltd. (NASDAQ:IGIC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $13.21, but opened at $13.60. International General Insurance shares last traded at $13.59, with a volume of 16,802 shares traded.

Analysts Set New Price Targets

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

International General Insurance Trading Up 3.6 %

The company’s 50-day moving average price is $13.05 and its two-hundred day moving average price is $12.21. The company has a market cap of $643.37 million, a P/E ratio of 5.38 and a beta of 0.16.

International General Insurance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, March 28th. This is a positive change from International General Insurance’s previous quarterly dividend of $0.01. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.91%. International General Insurance’s payout ratio is 1.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ballast Asset Management LP acquired a new position in shares of International General Insurance in the 3rd quarter worth approximately $2,000,000. New Vernon Investment Management LLC bought a new position in shares of International General Insurance in the 4th quarter worth $1,454,000. Quadrature Capital Ltd bought a new position in shares of International General Insurance in the 3rd quarter worth $1,063,000. Boston Partners acquired a new stake in shares of International General Insurance in the 4th quarter valued at about $780,000. Finally, Navellier & Associates Inc. acquired a new stake in shares of International General Insurance in the 4th quarter valued at about $761,000. Hedge funds and other institutional investors own 54.24% 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.