International General Insurance Holdings Ltd. $IGIC is Royce & Associates LP’s 9th Largest Position

Royce & Associates LP reduced its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,151,198 shares of the company’s stock after selling 22,428 shares during the period. International General Insurance accounts for about 0.8% of Royce & Associates LP’s holdings, making the stock its 9th biggest holding. Royce & Associates LP owned 7.06% of International General Insurance worth $79,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IGIC. Diamond Hill Capital Management Inc. lifted its holdings in shares of International General Insurance by 35.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 370,316 shares of the company’s stock valued at $9,291,000 after purchasing an additional 96,536 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of International General Insurance by 220.3% in the 2nd quarter. Raymond James Financial Inc. now owns 51,586 shares of the company’s stock valued at $1,239,000 after purchasing an additional 35,480 shares during the last quarter. Shay Capital LLC lifted its holdings in shares of International General Insurance by 13.1% in the 3rd quarter. Shay Capital LLC now owns 237,694 shares of the company’s stock valued at $5,515,000 after purchasing an additional 27,444 shares during the last quarter. Sageworth Trust Co of South Dakota purchased a new stake in shares of International General Insurance in the 3rd quarter valued at about $569,000. Finally, UBS Group AG lifted its holdings in shares of International General Insurance by 70.9% in the 3rd quarter. UBS Group AG now owns 36,962 shares of the company’s stock valued at $858,000 after purchasing an additional 15,339 shares during the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

International General Insurance Price Performance

Shares of IGIC stock opened at $25.31 on Tuesday. The stock has a market capitalization of $1.08 billion, a PE ratio of 9.14 and a beta of 0.14. International General Insurance Holdings Ltd. has a 52-week low of $20.82 and a 52-week high of $27.43. The stock’s 50-day moving average price is $25.11 and its 200 day moving average price is $24.70.

International General Insurance (NASDAQ:IGIC) last released its earnings results on Tuesday, February 24th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.08. International General Insurance had a return on equity of 17.68% and a net margin of 23.68%.The company had revenue of $126.40 million for the quarter, compared to analysts’ expectations of $116.40 million. Analysts expect that International General Insurance Holdings Ltd. will post 2.8 earnings per share for the current fiscal year.

International General Insurance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, May 28th. This is a positive change from International General Insurance’s previous quarterly dividend of $0.05. International General Insurance’s payout ratio is presently 7.22%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut International General Insurance from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $28.00.

International General Insurance Company Profile

International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.