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

International General Insurance Holdings Ltd. (NASDAQ:IGIC) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 129,800 shares, a decrease of 14.8% from the February 13th total of 152,400 shares. Based on an average daily trading volume, of 89,700 shares, the short-interest ratio is currently 1.4 days. Currently, 0.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of International General Insurance from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Oppenheimer upped their target price on shares of International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th.

International General Insurance Price Performance

Shares of IGIC stock opened at $25.63 on Thursday. The stock has a market cap of $1.18 billion, a PE ratio of 8.38 and a beta of 0.26. The stock has a 50-day moving average of $25.28 and a 200-day moving average of $23.11. International General Insurance has a one year low of $12.83 and a one year high of $27.76.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $135.20 million during the quarter, compared to analysts’ expectations of $136.20 million. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. As a group, research analysts anticipate that International General Insurance will post 3.18 earnings per share for the current year.

Institutional Trading of International General Insurance

Large investors have recently bought and sold shares of the business. ORG Wealth Partners LLC bought a new stake in International General Insurance during the 4th quarter worth approximately $60,000. Quantbot Technologies LP bought a new stake in International General Insurance during the 4th quarter worth approximately $87,000. PNC Financial Services Group Inc. bought a new stake in International General Insurance during the 4th quarter worth approximately $95,000. State of Wyoming bought a new stake in International General Insurance during the 4th quarter worth approximately $107,000. Finally, Geneos Wealth Management Inc. bought a new stake in International General Insurance during the 4th quarter worth approximately $177,000. 54.24% of the stock is owned by institutional investors.

International General Insurance Company Profile

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.