Ballast Asset Management LP lessened its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 283,850 shares of the company's stock after selling 9,790 shares during the quarter. International General Insurance makes up approximately 3.4% of Ballast Asset Management LP's investment portfolio, making the stock its 5th largest position. Ballast Asset Management LP owned approximately 0.62% of International General Insurance worth $6,744,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in IGIC. ORG Wealth Partners LLC acquired a new stake in International General Insurance during the fourth quarter worth approximately $60,000. Quantbot Technologies LP acquired 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 in the 4th quarter valued at $95,000. Geneos Wealth Management Inc. acquired a new position in International General Insurance in the 4th quarter valued at $177,000. Finally, JPMorgan Chase & Co. increased its position in International General Insurance by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock worth $320,000 after buying an additional 3,562 shares during the period. Institutional investors own 54.24% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted 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 boosted their price objective on shares of International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 27th.
Check Out Our Latest Stock Analysis on International General Insurance
International General Insurance Price Performance
International General Insurance stock traded down $3.41 during mid-day trading on Friday, reaching $22.61. 505,264 shares of the company were exchanged, compared to its average volume of 90,938. The company has a fifty day simple moving average of $25.76 and a 200-day simple moving average of $23.78. The firm has a market cap of $1.04 billion, a PE ratio of 7.39 and a beta of 0.05. International General Insurance Holdings Ltd. has a 12 month low of $12.83 and a 12 month high of $27.76.
International General Insurance (NASDAQ:IGIC - Get Free Report) last posted 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 business had revenue of $135.20 million during the quarter, compared to the consensus estimate of $136.20 million. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. Sell-side analysts anticipate that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current year.
International General Insurance Announces Dividend
The company also recently declared a -- dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance's dividend payout ratio is 3.34%.
About International General Insurance
(
Free Report)
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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