CWA Asset Management Group LLC acquired a new stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 42,256 shares of the company's stock, valued at approximately $1,112,000. CWA Asset Management Group LLC owned about 0.09% of International General Insurance as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in IGIC. Quantbot Technologies LP bought a new stake in International General Insurance in the 4th quarter valued at $87,000. PNC Financial Services Group Inc. bought a new position in shares of International General Insurance in the fourth quarter valued at about $95,000. State of Wyoming bought a new position in shares of International General Insurance in the fourth quarter valued at about $107,000. BNP Paribas Financial Markets acquired a new stake in shares of International General Insurance during the 4th quarter worth about $199,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of International General Insurance during the 4th quarter worth about $201,000. 54.24% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
IGIC has been the topic of several research analyst reports. Oppenheimer increased their price target on shares of International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Royal Bank Of Canada increased their target price on International General Insurance from $28.00 to $31.00 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
IGIC stock opened at $22.85 on Friday. The company's 50-day simple moving average is $23.74 and its 200 day simple moving average is $24.53. International General Insurance Holdings Ltd. has a 52 week low of $13.85 and a 52 week high of $27.76. The company has a market capitalization of $1.03 billion, a PE ratio of 8.40 and a beta of 0.25.
International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.05). International General Insurance had a net margin of 23.16% and a return on equity of 19.54%. The business had revenue of $129.00 million during the quarter, compared to the consensus estimate of $135.50 million. On average, analysts forecast that International General Insurance Holdings Ltd. will post 3.18 EPS for the current year.
International General Insurance Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Monday, June 2nd. International General Insurance's dividend payout ratio is currently 7.35%.
About International General Insurance
(
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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