International General Insurance Holdings Ordinary Share said on March 24, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid $0.01 per share.
Shares must be purchased before the ex-div date of April 5, 2023 to qualify for the dividend. Shareholders of record as of April 7, 2023 will receive the payment on April 21, 2023.
At the current share price of $8.32 / share, the stock's dividend yield is 0.48%. Looking back five years and taking a sample every week, the average dividend yield has been 2.71%, the lowest has been 0.48%, and the highest has been 4.93%. The standard deviation of yields is 1.25 (n=120).
The current dividend yield is 1.79 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.02. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
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Analyst Price Forecast Suggests 34.86% Upside
As of March 24, 2023, the average one-year price target for International General Insurance Holdings Ordinary Share is $11.22. The forecasts range from a low of $11.11 to a high of $11.55. The average price target represents an increase of 34.86% from its latest reported closing price of $8.32.
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The projected annual revenue for International General Insurance Holdings Ordinary Share is $655MM, an increase of 66.70%. The projected annual non-GAAP EPS is $1.56.
What is the Fund Sentiment?
There are 43 funds or institutions reporting positions in International General Insurance Holdings Ordinary Share. This is an increase of 6 owner(s) or 16.22% in the last quarter. Average portfolio weight of all funds dedicated to IGIC is 0.29%, a decrease of 10.66%. Total shares owned by institutions increased in the last three months by 9.86% to 17,802K shares. The put/call ratio of IGIC is 0.13, indicating a bullish outlook.
What are Large Shareholders Doing?
Royce & Associates holds 3,391K shares representing 7.21% ownership of the company. In it's prior filing, the firm reported owning 2,660K shares, representing an increase of 21.53%. The firm increased its portfolio allocation in IGIC by 27.33% over the last quarter.
Weiss Multi-Strategy Advisers holds 3,242K shares representing 6.89% ownership of the company. In it's prior filing, the firm reported owning 3,392K shares, representing a decrease of 4.65%. The firm increased its portfolio allocation in IGIC by 2.99% over the last quarter.
RYTRX - Royce Total Return Fund Investment Class holds 2,748K shares representing 5.84% ownership of the company. In it's prior filing, the firm reported owning 2,218K shares, representing an increase of 19.29%. The firm increased its portfolio allocation in IGIC by 26.16% over the last quarter.
Gilder Gagnon Howe & Co holds 1,552K shares representing 3.30% ownership of the company. In it's prior filing, the firm reported owning 1,907K shares, representing a decrease of 22.89%. The firm decreased its portfolio allocation in IGIC by 10.09% over the last quarter.
Franklin Resources holds 1,335K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 1,327K shares, representing an increase of 0.61%. The firm decreased its portfolio allocation in IGIC by 77.09% over the last quarter.
International General Insurance Holdings Background Information
(This description is provided by the company.)
IGI is an international specialist commercial insurer and reinsurer underwriting a diverse portfolio of specialty lines. Established in 2001, IGI is an entrepreneurial business with a worldwide portfolio of energy, property, general aviation, construction & engineering, forestry, ports & terminals, marine cargo, marine trades, financial institutions, general third party liability, legal expenses, professional indemnity, marine liability, political violence, and reinsurance treaty business. Registered in Bermuda, with operations in Bermuda, London, Dubai, Amman, Labuan and Casablanca, IGI aims to deliver outstanding levels of service to clients and brokers. IGI is rated 'A' (Excellent)/Stable by AM Best and 'A-'/Stable by S&P Global Ratings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
