International General Insurance Holdings Inc. Common Stock (IGIC) Declares Dividend of $0.01


International General Insurance Holdings common stock announced on March 24, 2023 that its board of directors has declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid him $0.01 per share.

Shares must be purchased before the April 5, 2023 ex-date to be eligible for the dividend. Shareholders of record on April 7, 2023 will receive payment on April 21, 2023.

At the current price of $8.32 / share, this stock has a dividend yield of 0.48%. Sampled weekly over the five-year period, the average dividend yield was 2.71%, with a low of 0.48% and a high of 4.93%. The standard deviation of yield is 1.25 (n=120).

The current dividend yield is 1.79 standard deviations below its historical average.

The company’s dividend payout ratio is 0.02 times. The payout ratio indicates how much of a company’s profits is paid out as dividends. A payout ratio of 1 (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above 1 means the company is steeped in savings to sustain its dividend. This is not a healthy situation. Companies with little growth prospects are expected to pay out the majority of their income in dividends. This usually means a payout ratio of 0.5 to 1.0. Companies with good growth prospects are expected to retain some profits to invest in those growth prospects. This translates to a payout ratio of zero to 0.5.

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Analyst Price Forecast Suggests 34.86% Gains

As of March 24, 2023, the average one-year price target for International General Insurance Holdings common stock is $11.22. Predictions range from as low as $11.11 to as high as $11.55. The average price target represents a 34.86% increase from the latest reported closing price of $8.32.

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Expected annual sales of International General Insurance Holdings common stock are $655 million, an increase of 66.70%. Projected annual non-GAAP EPS is $1.56.

What is Fund Sentiment?

There are 43 funds or institutions that report positions in the common stock of International General Insurance Holdings Inc. That’s an increase of 6 owners or 16.22% over the last quarter.Portfolio average weight of all funds IGIC dedicated was 0.29%, a decrease of 10.66%. The total number of shares owned by institutional investors increased by 9.86% to his 17,802,000 shares in the last three months. IGIC’s put/call ratio is 0.13, indicating a bullish outlook.

What do major shareholders do?

IGIC / International General Insurance Holdings Ltd. Common shares Institutional shares

Royce & Associates holds 3,391,000 shares representing a 7.21% ownership interest in the company. In previous filings, the company reported that it owned 2,660,000 of his shares.
will increase
21.53%.office

gain

Portfolio allocation at IGIC increased by 27.33% last quarter.

Weiss Multi-Strategy Advisers holds 3,242,000 shares representing a 6.89% ownership interest in the company. In previous filings, the company reported that it owned 3,392,000 of his shares.
Decrease
4.65%.office

gain

Portfolio allocation at IGIC increased 2.99% last quarter.

RYTRX – The Royce Total Return Fund Investment Class holds 2,748,000 shares representing a 5.84% ownership interest in the company. In previous filings, the company reported he owned 2,218,000 shares.
will increase
19.29%.office

gain

Portfolio allocation at IGIC increased by 26.16% last quarter.

Gilder Gagnon Howe & Co holds 1,552,000 shares representing a 3.30% ownership interest in the company. In previous filings, the company reported he owned 1,907,000 shares.
Decrease
22.89%.office

decreased

Portfolio allocation at IGIC increased by 10.09% last quarter.

Franklin Resources owns 1,335,000 shares representing a 2.84% ownership interest in the company. In previous filings, the company reported that it owned 1,327,000 of his shares.
will increase
0.61%.office

decreased

Portfolio allocation at IGIC increased by 77.09% last quarter.

Background Information for International General Insurance Holdings
(This description is provided by the company.)

IGI is an international specialty commercial insurer and reinsurer, underwriting a diversified portfolio of specialties. Founded in 2001, IGI is active in the areas of energy, real estate, general aviation, construction and engineering, forestry, ports and terminals, shipping freight, shipping, financial institutions, general third party liability, litigation costs and professional indemnification. An entrepreneurial company with a global portfolio of , Maritime Liability, Political Violence, and Reinsurance Treaty Business. Registered in Bermuda and with operations in Bermuda, London, Dubai, Amman, Labuan and Casablanca, IGI aims to provide a superior level of service to its clients and brokers. IGI is rated ‘A’ (Excellent)/Stable by AM Best and ‘A-‘/Stable by S&P Global Ratings.

This story was originally published in Fintel.

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.



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