Navellier & Associates Inc. Has $681,000 Stock Holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Navellier & Associates Inc. trimmed its holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 43.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,846 shares of the company's stock after selling 27,138 shares during the quarter. Navellier & Associates Inc. owned about 0.08% of International General Insurance worth $681,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC acquired a new position in shares of International General Insurance during the second quarter valued at $152,000. LSV Asset Management acquired a new position in International General Insurance during the 2nd quarter valued at about $179,000. Virtu Financial LLC bought a new stake in shares of International General Insurance during the 1st quarter worth about $209,000. Victory Capital Management Inc. bought a new position in shares of International General Insurance in the second quarter valued at approximately $229,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of International General Insurance during the third quarter valued at approximately $303,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

International General Insurance Trading Down 0.2 %

Shares of NASDAQ IGIC traded down $0.04 during midday trading on Friday, reaching $25.98. The company's stock had a trading volume of 227,066 shares, compared to its average volume of 80,744. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 8.49 and a beta of 0.21. International General Insurance Holdings Ltd. has a one year low of $11.46 and a one year high of $27.00. The company has a 50 day moving average price of $20.97 and a 200 day moving average price of $17.44.

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

International General Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a $0.025 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.10 dividend on an annualized basis and a yield of 0.38%. International General Insurance's dividend payout ratio is currently 3.27%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price 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. Oppenheimer assumed coverage on International General Insurance in a research note on Thursday. They set an "outperform" rating and a $30.00 target price for the company.

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.