International General Insurance (NASDAQ:IGIC) Sees Unusually-High Trading Volume – Should You Buy?

International General Insurance Holdings Ltd. (NASDAQ:IGIC) shares saw an uptick in trading volume on Thursday . 133,231 shares changed hands during trading, an increase of 124% from the previous session’s volume of 59,560 shares.The stock last traded at $25.34 and had previously closed at $25.24.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of International General Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $28.00.

International General Insurance Trading Up 1.7%

The firm’s 50 day simple moving average is $25.46 and its two-hundred day simple moving average is $24.85. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 9.31 and a beta of 0.12.

International General Insurance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be paid a $0.075 dividend. This is a positive change from International General Insurance’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, May 28th. This represents a $0.30 annualized dividend and a yield of 1.2%. International General Insurance’s dividend payout ratio is presently 10.83%.

Institutional Trading of International General Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of IGIC. Corsair Capital Management L.P. bought a new position in International General Insurance in the 1st quarter valued at about $352,000. XTX Topco Ltd bought a new position in International General Insurance in the 4th quarter valued at about $291,000. Millennium Management LLC increased its holdings in International General Insurance by 138.7% in the 4th quarter. Millennium Management LLC now owns 21,938 shares of the company’s stock valued at $550,000 after buying an additional 12,746 shares during the period. Lazard Asset Management LLC bought a new position in International General Insurance in the 4th quarter valued at about $810,000. Finally, Trexquant Investment LP increased its holdings in International General Insurance by 25.0% in the 4th quarter. Trexquant Investment LP now owns 38,532 shares of the company’s stock valued at $967,000 after buying an additional 7,713 shares during the period. Institutional investors and hedge funds own 54.24% of the company’s stock.

About International General Insurance

International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.