International General Insurance (NASDAQ:IGIC) Hits New 1-Year Low – What’s Next?

International General Insurance Holdings Ltd. (NASDAQ:IGIC) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $20.82 and last traded at $21.08, with a volume of 12784 shares trading hands. The stock had previously closed at $21.30.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of International General Insurance in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $31.50.

International General Insurance Price Performance

The company has a market capitalization of $950.17 million, a price-to-earnings ratio of 7.71 and a beta of 0.23. The stock’s fifty day simple moving average is $23.33 and its two-hundred day simple moving average is $23.61.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). International General Insurance had a return on equity of 17.40% and a net margin of 23.52%.The firm had revenue of $132.90 million during the quarter, compared to analyst estimates of $140.40 million. On average, sell-side analysts predict that International General Insurance Holdings Ltd. will post 3.18 EPS for the current year.

International General Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Monday, September 1st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, August 29th. International General Insurance’s dividend payout ratio (DPR) is 7.25%.

Institutional Trading of International General Insurance

Large investors have recently modified their holdings of the company. Copeland Capital Management LLC acquired a new stake in shares of International General Insurance in the 3rd quarter worth about $64,000. US Bancorp DE increased its holdings in shares of International General Insurance by 850.6% in the 1st quarter. US Bancorp DE now owns 4,753 shares of the company’s stock worth $125,000 after acquiring an additional 4,253 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of International General Insurance by 55.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,208 shares of the company’s stock worth $163,000 after acquiring an additional 2,208 shares during the period. State of Wyoming increased its holdings in shares of International General Insurance by 179.2% in the 2nd quarter. State of Wyoming now owns 6,665 shares of the company’s stock worth $160,000 after acquiring an additional 4,278 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in shares of International General Insurance by 29.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,752 shares of the company’s stock worth $162,000 after acquiring an additional 1,524 shares during the period. Institutional investors and hedge funds own 54.24% of the company’s stock.

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.