Royce & Associates LP lowered its stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 11.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,064,792 shares of the company's stock after selling 395,019 shares during the quarter. Royce & Associates LP owned 6.67% of International General Insurance worth $58,231,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of IGIC. Simplicity Wealth LLC acquired a new position in International General Insurance during the second quarter worth about $152,000. LSV Asset Management purchased a new position in International General Insurance during the second quarter worth approximately $179,000. Virtu Financial LLC acquired a new position in International General Insurance during the first quarter worth $209,000. Exchange Traded Concepts LLC purchased a new stake in International General Insurance in the 3rd quarter valued at $303,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of International General Insurance in the 2nd quarter worth $229,000. Institutional investors and hedge funds own 54.24% of the company's stock.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada boosted their price target on shares of International General Insurance from $22.00 to $26.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th.
Read Our Latest Stock Report on IGIC
International General Insurance Price Performance
Shares of IGIC stock traded down $0.30 during trading on Friday, hitting $24.73. 92,398 shares of the stock traded hands, compared to its average volume of 77,951. International General Insurance Holdings Ltd. has a 52-week low of $11.35 and a 52-week high of $25.50. The firm's fifty day moving average price is $20.06 and its 200-day moving average price is $16.94. The firm has a market capitalization of $1.14 billion, a P/E ratio of 8.18 and a beta of 0.21.
International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.67 EPS 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 company had revenue of $138.10 million for the quarter.
International General Insurance Company Profile
(
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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