International General Insurance Holdings Ltd. (NASDAQ:IGIC) Stock Holdings Decreased by Royce & Associates LP

Royce & Associates LP decreased its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 21.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,393,959 shares of the company's stock after selling 670,833 shares during the period. Royce & Associates LP owned 5.21% of International General Insurance worth $56,880,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of International General Insurance by 0.3% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company's stock worth $4,510,000 after buying an additional 525 shares during the last quarter. Geode Capital Management LLC grew its position in International General Insurance by 3.2% during the third quarter. Geode Capital Management LLC now owns 27,877 shares of the company's stock valued at $530,000 after acquiring an additional 859 shares during the period. ORG Wealth Partners LLC acquired a new stake in International General Insurance during the fourth quarter worth about $60,000. JPMorgan Chase & Co. raised its holdings in shares of International General Insurance by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock worth $320,000 after purchasing an additional 3,562 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new position in shares of International General Insurance in the 4th quarter valued at about $95,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

Remove Ads

International General Insurance Stock Up 5.4 %

Shares of NASDAQ IGIC traded up $1.38 on Thursday, hitting $27.01. The company had a trading volume of 158,778 shares, compared to its average volume of 88,870. International General Insurance Holdings Ltd. has a 12-month low of $12.83 and a 12-month high of $27.76. The firm has a market capitalization of $1.24 billion, a P/E ratio of 8.83 and a beta of 0.26. The business has a 50 day moving average of $25.28 and a two-hundred day moving average of $23.11.

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

International General Insurance Announces Dividend

The company also recently declared a -- dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be issued a dividend of $0.85 per share. This represents a yield of 0.4%. The ex-dividend date is Friday, April 4th. International General Insurance's payout ratio is 3.34%.

Wall Street Analyst Weigh In

IGIC has been the subject of a number of research analyst reports. Oppenheimer increased their target price on shares of International General Insurance from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Royal Bank of Canada increased their price objective on shares of International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report 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.