Boston Partners cut its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 38.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,662 shares of the company's stock after selling 20,688 shares during the period. Boston Partners owned approximately 0.07% of International General Insurance worth $800,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of IGIC. ORG Wealth Partners LLC acquired a new stake in shares of International General Insurance during the fourth quarter worth about $60,000. PNC Financial Services Group Inc. bought a new stake in shares of International General Insurance during the 4th quarter worth approximately $95,000. Geneos Wealth Management Inc. bought a new stake in International General Insurance during the fourth quarter worth $177,000. Kingsview Wealth Management LLC bought a new stake in shares of International General Insurance in the 3rd quarter valued at about $265,000. Finally, JPMorgan Chase & Co. lifted its position in shares of International General Insurance by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock valued at $320,000 after buying an additional 3,562 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
IGIC has been the subject of several recent research reports. Oppenheimer boosted their price target on International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Royal Bank of Canada upped their price target 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.
Check Out Our Latest Stock Analysis on International General Insurance
International General Insurance Price Performance
NASDAQ IGIC traded down $0.26 during mid-day trading on Wednesday, reaching $26.01. 52,495 shares of the stock were exchanged, compared to its average volume of 88,823. The stock has a market cap of $1.20 billion, a P/E ratio of 8.50 and a beta of 0.26. International General Insurance Holdings Ltd. has a one year low of $12.83 and a one year high of $27.76. The stock has a 50 day simple moving average of $25.51 and a 200-day simple moving average of $23.38.
International General Insurance (NASDAQ:IGIC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $135.20 million for the quarter, compared to analyst estimates 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 EPS for the current fiscal year.
International General Insurance Dividend Announcement
The company also recently disclosed a -- dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be paid a $0.85 dividend. The ex-dividend date is Friday, April 4th. This represents a yield of 0.4%. International General Insurance's dividend payout ratio (DPR) is presently 3.34%.
International General Insurance Profile
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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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