Deroy & Devereaux Private Investment Counsel Inc. Grows Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 31.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 189,300 shares of the company’s stock after acquiring an additional 45,455 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in International General Insurance were worth $3,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Sei Investments Co. boosted its position in shares of International General Insurance by 112.5% during the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock valued at $3,580,000 after buying an additional 135,400 shares during the last quarter. Acadian Asset Management LLC boosted its position in International General Insurance by 35.1% in the second quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock worth $3,095,000 after purchasing an additional 57,399 shares during the last quarter. Interval Partners LP boosted its position in International General Insurance by 15.5% in the second quarter. Interval Partners LP now owns 114,650 shares of the company’s stock worth $1,605,000 after purchasing an additional 15,379 shares during the last quarter. Marshall Wace LLP boosted its position in International General Insurance by 276.8% in the second quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock worth $1,292,000 after purchasing an additional 67,809 shares during the last quarter. Finally, PEAK6 Investments LLC boosted its position in International General Insurance by 33.8% in the first quarter. PEAK6 Investments LLC now owns 39,927 shares of the company’s stock worth $541,000 after purchasing an additional 10,083 shares during the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

International General Insurance Stock Down 3.2 %

NASDAQ IGIC opened at $22.27 on Friday. The stock’s 50-day moving average price is $18.99 and its 200-day moving average price is $16.25. International General Insurance Holdings Ltd. has a 52 week low of $10.76 and a 52 week high of $23.38. The company has a market capitalization of $1.02 billion, a P/E ratio of 8.73 and a beta of 0.23.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. International General Insurance had a return on equity of 25.74% and a net margin of 23.40%. The firm had revenue of $135.60 million for the quarter.

International General Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Monday, September 2nd were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, August 30th. International General Insurance’s dividend payout ratio (DPR) is currently 3.92%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their target price on International General Insurance from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th.

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.