Royce & Associates LP Sells 22,428 Shares of International General Insurance Holdings Ltd. $IGIC

Royce & Associates LP decreased its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,151,198 shares of the company’s stock after selling 22,428 shares during the period. International General Insurance makes up about 0.8% of Royce & Associates LP’s holdings, making the stock its 9th biggest position. Royce & Associates LP owned approximately 0.07% of International General Insurance worth $79,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. increased its position in 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 during the period. CWA Asset Management Group LLC increased its position in International General Insurance by 3.4% during the 4th quarter. CWA Asset Management Group LLC now owns 85,104 shares of the company’s stock worth $2,135,000 after purchasing an additional 2,817 shares during the period. Millennium Management LLC acquired a new stake in shares of International General Insurance in the 3rd quarter worth approximately $213,000. Aquatic Capital Management LLC grew its holdings in shares of International General Insurance by 31.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 12,255 shares of the company’s stock worth $284,000 after acquiring an additional 2,959 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in shares of International General Insurance by 16.7% in the 3rd quarter. Raymond James Financial Inc. now owns 60,225 shares of the company’s stock worth $1,397,000 after acquiring an additional 8,639 shares during the period. Institutional investors and hedge funds own 54.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut International General Insurance from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, International General Insurance currently has an average rating of “Buy” and an average target price of $28.00.

International General Insurance Price Performance

NASDAQ IGIC opened at $25.31 on Tuesday. International General Insurance Holdings Ltd. has a fifty-two week low of $20.82 and a fifty-two week high of $27.43. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 9.14 and a beta of 0.14. The business has a fifty day moving average of $25.11 and a 200-day moving average of $24.70.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $116.40 million. As a group, analysts anticipate that International General Insurance Holdings Ltd. will post 2.8 EPS for the current year.

International General Insurance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from International General Insurance’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, May 28th. International General Insurance’s payout ratio is presently 7.22%.

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.