International General Insurance Holdings Ltd. $IGIC Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,173,626 shares of the company’s stock after buying an additional 100,464 shares during the quarter. International General Insurance makes up approximately 0.7% of Royce & Associates LP’s portfolio, making the stock its 11th largest holding. Royce & Associates LP owned approximately 7.11% of International General Insurance worth $73,628,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. lifted its position in shares of International General Insurance by 6.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 273,780 shares of the company’s stock valued at $6,352,000 after acquiring an additional 15,592 shares in the last quarter. Shay Capital LLC raised its stake in International General Insurance by 5.4% in the 2nd quarter. Shay Capital LLC now owns 210,250 shares of the company’s stock valued at $5,050,000 after purchasing an additional 10,823 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in International General Insurance by 11.3% in the 3rd quarter. CWA Asset Management Group LLC now owns 82,287 shares of the company’s stock valued at $1,909,000 after purchasing an additional 8,343 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in 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 in the last quarter. Finally, Franklin Resources Inc. boosted its stake in International General Insurance by 5.8% during the 2nd quarter. Franklin Resources Inc. now owns 38,030 shares of the company’s stock worth $913,000 after purchasing an additional 2,085 shares during the last quarter. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of International General Insurance in a report on Thursday, January 22nd. Royal Bank Of Canada began coverage on shares of International General Insurance in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $28.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, International General Insurance currently has an average rating of “Buy” and a consensus price target of $28.00.

International General Insurance Trading Down 0.3%

Shares of IGIC opened at $25.20 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 8.78 and a beta of 0.15. The firm’s fifty day simple moving average is $24.88 and its 200-day simple moving average is $24.02. International General Insurance Holdings Ltd. has a twelve month low of $20.82 and a twelve month high of $27.63.

International General Insurance (NASDAQ:IGIC) last posted its earnings results on Tuesday, February 24th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. International General Insurance had a return on equity of 16.98% and a net margin of 24.61%.The firm had revenue of $126.40 million for the quarter, compared to analyst estimates of $116.40 million. On average, analysts predict that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.

International General Insurance Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, April 6th. Stockholders of record on Wednesday, March 18th will be given a dividend of $1.15 per share. This represents a dividend yield of 460.0%. The ex-dividend date of this dividend is Wednesday, March 18th. International General Insurance’s dividend payout ratio (DPR) is 6.97%.

International General Insurance declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 5th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.