International General Insurance Holdings Ltd. to Issue Quarterly Dividend of $0.05 (NASDAQ:IGIC)

Key Points

• International General Insurance Holdings Ltd. has declared a quarterly dividend of $0.05 per share, with a yield of 0.8%, payable to investors of record on September 1st.
• The company reported earnings of $0.51 per share in the last quarter, missing estimates, and had a revenue of $132.90 million, which was below analyst expectations.
• Institutional investors own 54.24% of International General Insurance, with significant recent acquisitions from firms like LPL Financial and JPMorgan Chase & Co.

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Investors of record on Monday, September 1st will be given a dividend of 0.05 per share on Tuesday, September 16th. This represents a c) annualized dividend and a yield of 0.8%.

International General Insurance has a dividend payout ratio of 3.2% meaning its dividend is sufficiently covered by earnings. Analysts expect International General Insurance to earn $3.03 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 3.3%.

International General Insurance Price Performance

NASDAQ IGIC traded down $0.01 during mid-day trading on Thursday, hitting $24.25. The stock had a trading volume of 65,246 shares, compared to its average volume of 116,569. International General Insurance has a twelve month low of $16.25 and a twelve month high of $27.76. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 8.79 and a beta of 0.27. The firm's 50 day moving average is $23.60 and its 200 day moving average is $24.40.

International General Insurance (NASDAQ:IGIC - Get Free Report) last released its quarterly earnings results 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 business had revenue of $132.90 million for the quarter, compared to analysts' expectations of $140.40 million. As a group, equities research analysts expect that International General Insurance will post 3.18 earnings per share for the current year.

Institutional Trading of International General Insurance

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC acquired a new stake in shares of International General Insurance in the fourth quarter valued at about $554,000. JPMorgan Chase & Co. raised its position in shares of International General Insurance by 32.2% during the 4th quarter. JPMorgan Chase & Co. now owns 22,291 shares of the company's stock worth $530,000 after purchasing an additional 5,434 shares during the period. Franklin Resources Inc. acquired a new stake in International General Insurance in the 4th quarter valued at approximately $830,000. Renaissance Technologies LLC increased its position in shares of 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 period. Finally, XTX Topco Ltd acquired a new position in shares of International General Insurance during the 4th quarter valued at $384,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.

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