Sowell Financial Services LLC Invests $2.23 Million in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Sowell Financial Services LLC acquired a new position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 93,997 shares of the company's stock, valued at approximately $2,233,000. Sowell Financial Services LLC owned approximately 0.20% of International General Insurance as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. purchased a new stake in shares of International General Insurance in the fourth quarter worth about $95,000. Navellier & Associates Inc. lifted its stake in International General Insurance by 73.4% in the 4th quarter. Navellier & Associates Inc. now owns 62,157 shares of the company's stock worth $1,477,000 after purchasing an additional 26,311 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in International General Insurance by 0.3% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company's stock valued at $4,510,000 after purchasing an additional 525 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of International General Insurance during the 4th quarter valued at $177,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of International General Insurance in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank of Canada boosted their target price on International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Oppenheimer boosted 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.

International General Insurance Stock Performance

NASDAQ:IGIC traded down $0.59 during mid-day trading on Thursday, reaching $24.87. The stock had a trading volume of 58,567 shares, compared to its average volume of 85,245. The stock has a market capitalization of $1.14 billion, a P/E ratio of 8.13 and a beta of 0.26. The firm has a 50 day moving average price of $25.13 and a two-hundred day moving average price of $22.85. International General Insurance Holdings Ltd. has a one year low of $12.73 and a one year high of $27.76.

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

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.