International General Insurance Holdings Ltd. $IGIC Shares Purchased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. boosted its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 35.3% during the 4th quarter, Holdings Channel reports. The fund owned 370,316 shares of the company’s stock after acquiring an additional 96,536 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in International General Insurance were worth $9,291,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IGIC. JPMorgan Chase & Co. raised its holdings in International General Insurance by 83.4% in the second quarter. JPMorgan Chase & Co. now owns 15,107 shares of the company’s stock valued at $363,000 after acquiring an additional 6,872 shares in the last quarter. Raymond James Financial Inc. raised its holdings in International General Insurance by 220.3% in the second quarter. Raymond James Financial Inc. now owns 51,586 shares of the company’s stock valued at $1,239,000 after acquiring an additional 35,480 shares in the last quarter. BNP Paribas Financial Markets increased its stake in International General Insurance by 61.0% in the second quarter. BNP Paribas Financial Markets now owns 7,824 shares of the company’s stock valued at $188,000 after purchasing an additional 2,963 shares during the last quarter. IHT Wealth Management LLC purchased a new position in International General Insurance in the second quarter valued at approximately $233,000. Finally, Shay Capital LLC increased its stake in International General Insurance by 5.4% in the second 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. Institutional investors and hedge funds own 54.24% of the company’s stock.

International General Insurance Stock Down 2.3%

Shares of International General Insurance stock opened at $25.31 on Friday. The firm has a market capitalization of $1.08 billion, a P/E 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 firm’s 50 day moving average is $25.08 and its two-hundred day moving average is $24.65.

International General Insurance (NASDAQ:IGIC) last announced its quarterly 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. The company had revenue of $126.40 million for the quarter, compared to analyst estimates of $116.40 million. International General Insurance had a net margin of 23.68% and a return on equity of 17.68%. As a group, research 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 business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be paid a $0.075 dividend. This is an increase from International General Insurance’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, May 28th. International General Insurance’s payout ratio is currently 7.22%.

Analyst Upgrades and Downgrades

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

About International General Insurance

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.