Quadrature Capital Ltd Sells 82,470 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Quadrature Capital Ltd decreased its position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 85.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,200 shares of the company's stock after selling 82,470 shares during the quarter. Quadrature Capital Ltd's holdings in International General Insurance were worth $270,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IGIC. Simplicity Wealth LLC bought a new stake in shares of International General Insurance in the 2nd quarter valued at $152,000. LSV Asset Management bought a new stake in shares of International General Insurance in the 2nd quarter valued at $179,000. Victory Capital Management Inc. bought a new stake in shares of International General Insurance in the 2nd quarter valued at $229,000. Kingsview Wealth Management LLC bought a new stake in shares of International General Insurance in the 3rd quarter valued at $265,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of International General Insurance in the 3rd quarter valued at $303,000. Institutional investors own 54.24% of the company's stock.

International General Insurance Stock Down 1.0 %

IGIC stock traded down $0.25 during midday trading on Wednesday, reaching $24.48. 113,703 shares of the company's stock traded hands, compared to its average volume of 81,803. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 8.08 and a beta of 0.25. The firm's fifty day moving average price is $22.63 and its 200-day moving average price is $18.43. International General Insurance Holdings Ltd. has a 52 week low of $11.51 and a 52 week high of $27.00.

International General Insurance (NASDAQ:IGIC - Get Free Report) last announced its quarterly 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. The business had revenue of $138.10 million during the quarter. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. Analysts forecast that International General Insurance Holdings Ltd. will post 2.91 earnings per share for the current year.

International General Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Tuesday, December 3rd. International General Insurance's dividend payout ratio is 3.27%.

Analysts Set New Price Targets

Several analysts have recently weighed in on IGIC shares. Royal Bank of Canada lifted their price objective on shares of International General Insurance from $22.00 to $26.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Oppenheimer initiated coverage on shares of International General Insurance in a research note on Thursday, November 21st. They set an "outperform" rating and a $30.00 price target for the company.

International General Insurance 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.