Beacon Pointe Advisors LLC acquired a new position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 25,445 shares of the company's stock, valued at approximately $605,000. Beacon Pointe Advisors LLC owned 0.06% of International General Insurance as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IGIC. XTX Topco Ltd acquired a new position in shares of International General Insurance in the 4th quarter valued at $384,000. Renaissance Technologies LLC lifted its stake in International General Insurance by 22.2% in the fourth quarter. Renaissance Technologies LLC now owns 115,500 shares of the company's stock valued at $2,744,000 after buying an additional 21,000 shares during the period. Franklin Resources Inc. bought a new position in International General Insurance during the fourth quarter worth about $830,000. JPMorgan Chase & Co. grew its position in shares of International General Insurance by 32.2% during the 4th quarter. JPMorgan Chase & Co. now owns 22,291 shares of the company's stock worth $530,000 after buying an additional 5,434 shares during the period. Finally, LPL Financial LLC bought a new stake in shares of International General Insurance in the 4th quarter valued at about $554,000. 54.24% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on IGIC. Royal Bank of Canada lifted their price objective on shares of International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Oppenheimer raised their price objective on International General Insurance from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th.
Check Out Our Latest Report on IGIC
International General Insurance Stock Performance
Shares of IGIC opened at $25.55 on Friday. The firm has a market capitalization of $1.15 billion, a PE ratio of 8.35 and a beta of 0.05. The stock has a 50 day simple moving average of $24.96 and a 200 day simple moving average of $24.53. International General Insurance Holdings Ltd. has a 52-week low of $13.48 and a 52-week high of $27.76.
International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $135.20 million for the quarter, compared to analysts' expectations of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. Equities research analysts predict that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.
International General Insurance Dividend Announcement
The company also recently disclosed a -- dividend, which was paid on Tuesday, April 22nd. Investors of record on Friday, April 4th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance's payout ratio is presently 3.34%.
International General Insurance Profile
(
Free Report)
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.
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