Diamond Hill Capital Management LLC Investment Advisor Makes New Investment in International General Insurance Holdings Ltd. $IGIC

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 526,280 shares of the company’s stock, valued at approximately $13,773,000. Diamond Hill Capital Management LLC Investment Advisor owned 1.23% of International General Insurance as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IGIC. Diamond Hill Capital Management Inc. increased its position in shares of International General Insurance by 35.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 370,316 shares of the company’s stock worth $9,291,000 after purchasing an additional 96,536 shares in the last quarter. Raymond James Financial Inc. boosted its position 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 buying an additional 35,480 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of International General Insurance during the fourth quarter worth approximately $810,000. Goldman Sachs Group Inc. increased its holdings in shares of International General Insurance by 214.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 46,436 shares of the company’s stock worth $1,165,000 after buying an additional 31,675 shares in the last quarter. Finally, Shay Capital LLC increased its holdings in shares of International General Insurance by 13.1% during the third quarter. Shay Capital LLC now owns 237,694 shares of the company’s stock worth $5,515,000 after buying an additional 27,444 shares in the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on IGIC shares. Zacks Research downgraded International General Insurance from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Royal Bank Of Canada lifted their price objective on International General Insurance from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised International General Insurance from a “buy (b-)” rating to a “buy (b+)” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.00.

International General Insurance Trading Down 3.6%

Shares of IGIC stock opened at $26.24 on Tuesday. International General Insurance Holdings Ltd. has a 1 year low of $20.82 and a 1 year high of $29.58. The firm’s 50 day moving average is $26.96 and its 200-day moving average is $25.73. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.54 and a beta of 0.11.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.17). International General Insurance had a return on equity of 17.03% and a net margin of 20.68%.The company had revenue of $143.50 million during the quarter, compared to the consensus estimate of $114.90 million. On average, equities research analysts forecast that International General Insurance Holdings Ltd. will post 2.81 earnings per share for the current fiscal year.

International General Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 18th. International General Insurance’s dividend payout ratio is 12.05%.

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.