Deroy & Devereaux Private Investment Counsel Inc. Grows Stock Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 31.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,300 shares of the company's stock after buying an additional 45,455 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.41% of International General Insurance worth $3,597,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Simplicity Wealth LLC bought a new position in shares of International General Insurance during the 2nd quarter valued at approximately $152,000. LSV Asset Management bought a new stake in shares of International General Insurance during the 2nd quarter valued at $179,000. Virtu Financial LLC purchased a new position in shares of International General Insurance during the 1st quarter valued at $209,000. Victory Capital Management Inc. bought a new position in International General Insurance in the 2nd quarter worth $229,000. Finally, Exchange Traded Concepts LLC purchased a new stake in International General Insurance in the 3rd quarter worth $303,000. 54.24% of the stock is currently owned by institutional investors.

International General Insurance Stock Down 2.5 %

IGIC stock traded down $0.55 during midday trading on Friday, hitting $21.72. The company's stock had a trading volume of 164,209 shares, compared to its average volume of 73,753. The firm has a market capitalization of $998.03 million, a price-to-earnings ratio of 8.52 and a beta of 0.23. International General Insurance Holdings Ltd. has a 12 month low of $10.76 and a 12 month high of $23.38. The company has a 50 day moving average of $19.08 and a two-hundred day moving average of $16.30.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.12. The company had revenue of $135.60 million during the quarter. International General Insurance had a net margin of 23.40% and a return on equity of 25.74%.

International General Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, September 2nd were paid a $0.025 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.46%. International General Insurance's payout ratio is currently 3.92%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their price objective on International General Insurance from $17.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th.

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.