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

International General Insurance Holdings Ltd. (NASDAQ:IGIC) 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.

Wall Street Analysts Forecast Growth

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

International General Insurance Trading Up 3.6 %

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

International General Insurance Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Heartland Advisors Inc. increased its holdings in shares of International General Insurance by 0.3% in the fourth quarter. Heartland Advisors Inc. now owns 746,800 shares of the company’s stock valued at $9,619,000 after purchasing an additional 2,200 shares during the last quarter. Envestnet Asset Management Inc. grew its position in International General Insurance by 10.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,486 shares of the company’s stock worth $354,000 after purchasing an additional 2,510 shares in the last quarter. UBS Group AG bought a new stake in International General Insurance in the fourth quarter valued at about $28,000. Sei Investments Co. increased its position in shares of International General Insurance by 7.4% during the second quarter. Sei Investments Co. now owns 57,897 shares of the company’s stock worth $517,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in International General Insurance by 12.2% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 48,900 shares of the company’s stock valued at $405,000 after buying an additional 5,300 shares during the period. Institutional investors own 54.24% of the company’s stock.

About International General Insurance

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.