Virtu Financial LLC Takes Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Virtu Financial LLC acquired a new position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,985 shares of the company's stock, valued at approximately $427,000.

Several other institutional investors have also recently added to or reduced their stakes in IGIC. Sowell Financial Services LLC acquired a new stake in International General Insurance during the fourth quarter worth approximately $2,233,000. Navellier & Associates Inc. grew its position in International General Insurance by 73.4% during 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 during the last quarter. Tidal Investments LLC acquired a new position in International General Insurance in the 3rd quarter valued at about $372,000. Diamond Hill Capital Management Inc. increased its holdings in shares of International General Insurance by 8.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company's stock valued at $4,528,000 after purchasing an additional 14,890 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in shares of International General Insurance in the third quarter valued at approximately $265,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of International General Insurance from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Oppenheimer raised their price objective on shares of International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th.

International General Insurance Stock Performance

Shares of NASDAQ:IGIC traded down $0.65 during trading on Friday, reaching $25.88. 72,885 shares of the stock were exchanged, compared to its average volume of 88,295. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 8.46 and a beta of 0.26. International General Insurance Holdings Ltd. has a 12-month low of $12.83 and a 12-month high of $27.76. The firm's 50-day moving average price is $25.62 and its 200 day moving average price is $23.56.

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

International General Insurance Dividend Announcement

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