International General Insurance Holdings Ltd. Plans Annual Dividend of $1.15 (NASDAQ:IGIC)

International General Insurance Holdings Ltd. (NASDAQ:IGIC) declared an annual dividend on Wednesday, February 25th. Stockholders of record on Wednesday, March 18th will be paid a dividend of 1.15 per share on Monday, April 6th. This represents a dividend yield of 460.0%. The ex-dividend date of this dividend is Wednesday, March 18th.

International General Insurance has a payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Equities 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 $0.20 annual dividend with an expected future payout ratio of 6.6%.

International General Insurance Trading Down 0.7%

NASDAQ:IGIC traded down $0.18 during midday trading on Wednesday, hitting $25.20. 129,504 shares of the company traded hands, compared to its average volume of 63,711. The firm has a market capitalization of $1.12 billion, a P/E ratio of 9.13 and a beta of 0.15. The firm’s fifty day moving average is $24.88 and its 200-day moving average is $24.00. International General Insurance has a 12-month low of $20.82 and a 12-month high of $27.76.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. International General Insurance had a net margin of 23.76% and a return on equity of 18.36%. The business had revenue of $126.40 million for the quarter, compared to analysts’ expectations of $116.40 million. On average, research analysts expect that International General Insurance will post 3.18 EPS for the current fiscal year.

Hedge Funds Weigh In On International General Insurance

Several institutional investors have recently made changes to their positions in the company. Royce & Associates LP lifted its stake in International General Insurance by 3.3% in the third quarter. Royce & Associates LP now owns 3,173,626 shares of the company’s stock worth $73,628,000 after acquiring an additional 100,464 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of International General Insurance by 35.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 370,316 shares of the company’s stock valued at $9,291,000 after purchasing an additional 96,536 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of International General Insurance by 220.3% in the 2nd quarter. Raymond James Financial Inc. now owns 51,586 shares of the company’s stock worth $1,239,000 after purchasing an additional 35,480 shares during the period. Lazard Asset Management LLC bought a new position in shares of International General Insurance during the fourth quarter valued at approximately $810,000. Finally, Goldman Sachs Group Inc. increased its holdings in International General Insurance by 214.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 46,436 shares of the company’s stock valued at $1,165,000 after buying an additional 31,675 shares during the period. Hedge funds and other institutional investors 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.