Franklin Resources Inc. purchased a new stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 34,940 shares of the company's stock, valued at approximately $830,000. Franklin Resources Inc. owned 0.08% of International General Insurance 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 shares of International General Insurance during the 4th quarter worth approximately $60,000. Quantbot Technologies LP acquired a new position in shares of International General Insurance during the 4th quarter worth $87,000. PNC Financial Services Group Inc. bought a new stake in shares of International General Insurance during the 4th quarter worth $95,000. Geneos Wealth Management Inc. acquired a new stake in International General Insurance in the fourth quarter valued at about $177,000. Finally, JPMorgan Chase & Co. raised its stake in International General Insurance by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock worth $320,000 after acquiring an additional 3,562 shares in the last quarter. Institutional investors and hedge funds own 54.24% of the company's stock.
International General Insurance Trading Up 2.5 %
IGIC traded up $0.59 during trading on Tuesday, reaching $24.45. 154,575 shares of the company's stock were exchanged, compared to its average volume of 96,344. The firm has a fifty day moving average price of $25.28 and a two-hundred day moving average price of $24.22. The stock has a market capitalization of $1.10 billion, a PE ratio of 7.99 and a beta of 0.05. International General Insurance Holdings Ltd. has a one year low of $12.83 and a one year high of $27.76.
International General Insurance (NASDAQ:IGIC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $135.20 million for the quarter, compared to analysts' expectations of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. Sell-side analysts expect that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current year.
International General Insurance Dividend Announcement
The company also recently disclosed a -- dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be paid a $0.85 dividend. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, April 4th. International General Insurance's dividend payout ratio is currently 3.34%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Oppenheimer upped their price objective on shares of International General Insurance from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Royal Bank of Canada increased their target price on International General Insurance from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th.
View Our Latest Stock Report on International General Insurance
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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