Acadian Asset Management LLC Cuts Holdings in International General Insurance Holdings Ltd. $IGIC

Key Points

• Acadian Asset Management LLC reduced its stake in International General Insurance Holdings Ltd. by 8.6%, now holding approximately 160,898 shares valued at $4.23 million.
• The company reported $0.51 EPS for the last quarter, missing estimates, with revenue of $132.90 million compared to expectations of $140.40 million.
• International General Insurance declared a quarterly $0.05 dividend, with a 0.8% dividend yield and an ex-dividend date of August 29th.

Acadian Asset Management LLC trimmed its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 160,898 shares of the company's stock after selling 15,138 shares during the period. Acadian Asset Management LLC owned approximately 0.36% of International General Insurance worth $4,233,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IGIC. State of Wyoming purchased a new stake in International General Insurance during the 4th quarter valued at $107,000. US Bancorp DE boosted its stake in International General Insurance by 850.6% during the 1st quarter. US Bancorp DE now owns 4,753 shares of the company's stock valued at $125,000 after purchasing an additional 4,253 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in International General Insurance during the 1st quarter valued at $147,000. PNC Financial Services Group Inc. boosted its stake in International General Insurance by 55.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,208 shares of the company's stock valued at $163,000 after purchasing an additional 2,208 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in International General Insurance during the 4th quarter valued at $199,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

International General Insurance Trading Down 0.3%

Shares of IGIC opened at $24.20 on Monday. The business's fifty day simple moving average is $24.04 and its two-hundred day simple moving average is $24.12. International General Insurance Holdings Ltd. has a 12 month low of $17.52 and a 12 month high of $27.76. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 8.77 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.04). International General Insurance had a net margin of 23.52% and a return on equity of 17.40%. The business had revenue of $132.90 million for the quarter, compared to analysts' expectations of $140.40 million. As a group, research analysts forecast that International General Insurance Holdings Ltd. will post 3.18 EPS for the current year.

International General Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Monday, September 1st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th. International General Insurance's dividend payout ratio (DPR) is 7.25%.

International General Insurance 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.

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