Renaissance Technologies LLC Acquires 21,000 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Renaissance Technologies LLC lifted its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,500 shares of the company's stock after buying an additional 21,000 shares during the period. Renaissance Technologies LLC owned about 0.25% of International General Insurance worth $2,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new position in International General Insurance in the 4th quarter worth $60,000. Quantbot Technologies LP bought a new stake in shares of International General Insurance in the fourth quarter worth $87,000. PNC Financial Services Group Inc. bought a new stake in shares of International General Insurance in the fourth quarter worth $95,000. Geneos Wealth Management Inc. acquired a new position in International General Insurance during the fourth quarter worth $177,000. Finally, JPMorgan Chase & Co. grew its position in International General Insurance by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock valued at $320,000 after purchasing an additional 3,562 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IGIC shares. Oppenheimer increased their price objective 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 objective on International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th.

International General Insurance Price Performance

IGIC traded down $0.05 on Tuesday, hitting $24.63. 30,102 shares of the stock were exchanged, compared to its average volume of 95,864. The business has a 50-day moving average of $25.10 and a two-hundred day moving average of $24.41. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 8.05 and a beta of 0.05. International General Insurance Holdings Ltd. has a 12 month low of $12.83 and a 12 month high of $27.76.

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

International General Insurance Announces Dividend

The company also recently disclosed a -- dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th were paid a $0.85 dividend. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, April 4th. International General Insurance's dividend payout ratio is currently 3.34%.

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.