Diamond Hill Capital Management Inc. Takes $3.34 Million Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Diamond Hill Capital Management Inc. acquired a new position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 175,673 shares of the company's stock, valued at approximately $3,338,000. Diamond Hill Capital Management Inc. owned 0.38% of International General Insurance at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IGIC. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of International General Insurance during the second quarter valued at $2,014,000. Sei Investments Co. raised its position in International General Insurance by 112.5% during the second quarter. Sei Investments Co. now owns 255,719 shares of the company's stock valued at $3,580,000 after acquiring an additional 135,400 shares in the last quarter. Marshall Wace LLP grew its holdings in International General Insurance by 276.8% in the second quarter. Marshall Wace LLP now owns 92,308 shares of the company's stock valued at $1,292,000 after purchasing an additional 67,809 shares during the period. Acadian Asset Management LLC lifted its position in shares of International General Insurance by 35.1% in the second quarter. Acadian Asset Management LLC now owns 221,120 shares of the company's stock valued at $3,095,000 after acquiring an additional 57,399 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in International General Insurance during the 2nd quarter valued at about $411,000. Institutional investors own 54.24% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their price target on International General Insurance from $22.00 to $26.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th.

International General Insurance Price Performance

IGIC traded up $0.12 during trading on Tuesday, hitting $24.93. The company's stock had a trading volume of 89,648 shares, compared to its average volume of 76,987. International General Insurance Holdings Ltd. has a twelve month low of $10.85 and a twelve month high of $25.50. The firm's 50 day moving average price is $19.66 and its 200-day moving average price is $16.75. The stock has a market cap of $1.15 billion, a PE ratio of 8.11 and a beta of 0.21.

International General Insurance (NASDAQ:IGIC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.11. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The business had revenue of $138.10 million during the quarter.

International General Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Monday, September 2nd were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.10 annualized dividend and a yield of 0.40%. International General Insurance's payout ratio is 3.27%.

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.