Heartland Advisors Inc. Decreases Holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Heartland Advisors Inc. reduced its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 540,150 shares of the company’s stock after selling 73,450 shares during the quarter. Heartland Advisors Inc. owned about 1.18% of International General Insurance worth $12,834,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in International General Insurance during the 4th quarter worth $60,000. Quantbot Technologies LP purchased a new stake in shares of International General Insurance during the fourth quarter worth about $87,000. PNC Financial Services Group Inc. acquired a new position in shares of International General Insurance during the fourth quarter valued at about $95,000. Geneos Wealth Management Inc. purchased a new position in shares of International General Insurance in the 4th quarter valued at approximately $177,000. Finally, Kingsview Wealth Management LLC acquired a new stake in International General Insurance in the 3rd quarter worth approximately $265,000. 54.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IGIC has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on shares of International General Insurance from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Oppenheimer raised their target price on 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 Trading Up 2.0 %

Shares of NASDAQ:IGIC opened at $26.53 on Friday. International General Insurance Holdings Ltd. has a twelve month low of $12.83 and a twelve month high of $27.76. The company has a market cap of $1.22 billion, a PE ratio of 8.67 and a beta of 0.26. The company’s 50 day moving average is $25.58 and its 200 day moving average is $23.42.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings data 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. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The firm had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million. Equities research analysts predict that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.

International General Insurance Dividend Announcement

The business also recently announced a — dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance’s payout ratio is 3.34%.

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.