Northern Trust Corp Invests $409,000 in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Northern Trust Corp bought a new position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,218 shares of the company's stock, valued at approximately $409,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sowell Financial Services LLC purchased a new position in shares of International General Insurance during the fourth quarter worth approximately $2,233,000. Franklin Resources Inc. purchased a new position in International General Insurance during the 4th quarter worth $830,000. Navellier & Associates Inc. raised its position in International General Insurance by 73.4% during the 4th quarter. Navellier & Associates Inc. now owns 62,157 shares of the company's stock valued at $1,477,000 after purchasing an additional 26,311 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in International General Insurance during the 4th quarter valued at $605,000. Finally, LPL Financial LLC purchased a new stake in shares of International General Insurance in the 4th quarter worth $554,000. 54.24% of the stock is currently owned by institutional investors.

International General Insurance Trading Down 1.1%

Shares of NASDAQ:IGIC traded down $0.25 on Wednesday, reaching $22.74. The company had a trading volume of 129,668 shares, compared to its average volume of 103,491. The firm has a market capitalization of $1.03 billion, a PE ratio of 7.43 and a beta of 0.25. International General Insurance Holdings Ltd. has a 52-week low of $13.81 and a 52-week high of $27.76. The firm's 50 day simple moving average is $23.98 and its 200-day simple moving average is $24.74.

International General Insurance (NASDAQ:IGIC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.05). International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The firm had revenue of $129.00 million during the quarter, compared to the consensus estimate of $135.50 million. As a group, equities research analysts predict that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current year.

International General Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.88%. International General Insurance's dividend payout ratio (DPR) is presently 7.35%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IGIC. Royal Bank of Canada lifted their price objective on International General Insurance from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Oppenheimer upped their price target on shares of International General Insurance from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th.

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.