International General Insurance Holdings Ltd. (NASDAQ:IGIC) Sees Significant Decrease in Short Interest

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 111,100 shares, a decline of 16.7% from the March 15th total of 133,400 shares. Based on an average trading volume of 100,800 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.7% of the shares of the company are sold short.

International General Insurance Price Performance

NASDAQ IGIC traded up $0.18 during trading on Thursday, reaching $25.14. The company's stock had a trading volume of 12,091 shares, compared to its average volume of 95,954. The firm has a fifty day moving average of $25.24 and a 200 day moving average of $24.23. The stock has a market capitalization of $1.13 billion, a PE ratio of 8.21 and a beta of 0.05. International General Insurance has a one year low of $12.83 and a one year high of $27.76.

International General Insurance (NASDAQ:IGIC - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The business had revenue of $135.20 million during the quarter, compared to analysts' expectations of $136.20 million. Research analysts expect that International General Insurance will post 3.18 earnings per share for the current fiscal year.

International General Insurance Dividend Announcement

The company also recently disclosed a -- dividend, which was paid on Tuesday, April 22nd. Investors of record on Friday, April 4th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance's dividend payout ratio is 3.34%.

Institutional Investors Weigh In On International General Insurance

A number of institutional investors have recently made changes to their positions in the business. Shay Capital LLC lifted its stake in International General Insurance by 13.1% in the fourth quarter. Shay Capital LLC now owns 226,759 shares of the company's stock worth $5,388,000 after purchasing an additional 26,210 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of International General Insurance by 8.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company's stock worth $4,528,000 after purchasing an additional 14,890 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in International General Insurance by 0.3% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company's stock valued at $4,510,000 after purchasing an additional 525 shares during the period. Renaissance Technologies LLC raised its position in International General Insurance by 22.2% during the 4th quarter. Renaissance Technologies LLC now owns 115,500 shares of the company's stock valued at $2,744,000 after purchasing an additional 21,000 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in International General Insurance in the 4th quarter worth approximately $2,233,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Oppenheimer lifted their price target on International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Royal Bank of Canada upped their price target on International General Insurance from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th.

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.