International General Insurance (NASDAQ:IGIC) Reaches New 52-Week High – What’s Next?

International General Insurance Holdings Ltd. (NASDAQ:IGIC) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $27.11 and last traded at $26.91, with a volume of 4755 shares. The stock had previously closed at $26.77.

Analysts Set New Price Targets

A number of research analysts have commented on IGIC shares. Royal Bank of Canada raised their price target on shares of International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Oppenheimer initiated coverage on shares of International General Insurance in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price objective for the company.

International General Insurance Stock Up 2.2 %

The company has a market cap of $1.26 billion, a price-to-earnings ratio of 8.94 and a beta of 0.27. The company’s fifty day moving average price is $24.55 and its two-hundred day moving average price is $21.76.

Institutional Trading of International General Insurance

Several hedge funds have recently modified their holdings of IGIC. ORG Wealth Partners LLC acquired a new stake in shares of International General Insurance in the fourth quarter valued at approximately $60,000. Quantbot Technologies LP acquired a new stake in shares of International General Insurance in the fourth quarter valued at approximately $87,000. PNC Financial Services Group Inc. acquired a new stake in shares of International General Insurance in the fourth quarter valued at approximately $95,000. State of Wyoming acquired a new stake in shares of International General Insurance in the fourth quarter valued at approximately $107,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of International General Insurance in the fourth quarter valued at approximately $177,000. 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.