New Vernon Investment Management LLC Sells 74,770 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

New Vernon Investment Management LLC trimmed its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 94.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,253 shares of the company's stock after selling 74,770 shares during the quarter. New Vernon Investment Management LLC's holdings in International General Insurance were worth $101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IGIC. ORG Wealth Partners LLC acquired a new position in International General Insurance in the 4th quarter valued at approximately $60,000. Quantbot Technologies LP purchased a new position in shares of International General Insurance during the 4th quarter valued at $87,000. PNC Financial Services Group Inc. acquired a new position in shares of International General Insurance in the fourth quarter worth $95,000. Geneos Wealth Management Inc. acquired a new position in shares of International General Insurance in the fourth quarter worth $177,000. Finally, XTX Topco Ltd acquired a new position in shares of International General Insurance in the fourth quarter worth $384,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

International General Insurance Stock Performance

Shares of NASDAQ IGIC traded up $0.21 during mid-day trading on Monday, reaching $24.67. The company had a trading volume of 44,137 shares, compared to its average volume of 96,124. International General Insurance Holdings Ltd. has a twelve month low of $12.83 and a twelve month high of $27.76. The stock has a market capitalization of $1.11 billion, a PE ratio of 8.06 and a beta of 0.05. The stock's 50 day moving average is $25.15 and its 200-day moving average is $24.38.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The company had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million. On average, sell-side analysts anticipate that International General Insurance Holdings Ltd. will post 3.18 EPS for the current year.

International General Insurance Announces Dividend

The business also recently announced a -- dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a yield of 0.4%. International General Insurance's dividend payout ratio (DPR) is currently 3.34%.

Analyst Ratings Changes

A number of research firms have recently weighed in on IGIC. Oppenheimer upped their price target on shares of International General Insurance from $30.00 to $32.00 and gave the stock 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 stock an "outperform" rating in a research note on Thursday, February 27th.

About International General Insurance

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.