International General Insurance Holdings Ltd. $IGIC Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in International General Insurance Holdings Ltd. by 43%, now owning 14,836 shares worth $390,000.
• International General Insurance Holdings Ltd. reported earnings per share of $0.51 for the last quarter, falling short of expectations of $0.55 and had a revenue of $132.90 million.
• The company declared a quarterly dividend of $0.05 per share, yielding 0.9%, with a dividend payout ratio of 7.25%.

Goldman Sachs Group Inc. lowered its holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 43.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,836 shares of the company's stock after selling 11,182 shares during the quarter. Goldman Sachs Group Inc.'s holdings in International General Insurance were worth $390,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mackenzie Financial Corp boosted its holdings in International General Insurance by 2.9% during the first quarter. Mackenzie Financial Corp now owns 35,945 shares of the company's stock worth $946,000 after buying an additional 1,005 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in International General Insurance by 55.2% during the first quarter. PNC Financial Services Group Inc. now owns 6,208 shares of the company's stock worth $163,000 after buying an additional 2,208 shares in the last quarter. Boston Partners boosted its holdings in International General Insurance by 12.2% during the first quarter. Boston Partners now owns 37,758 shares of the company's stock worth $993,000 after buying an additional 4,096 shares in the last quarter. US Bancorp DE boosted its holdings in International General Insurance by 850.6% during the first quarter. US Bancorp DE now owns 4,753 shares of the company's stock worth $125,000 after buying an additional 4,253 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in International General Insurance during the first quarter worth $147,000. Institutional investors and hedge funds own 54.24% of the company's stock.

International General Insurance Stock Down 1.2%

IGIC opened at $23.42 on Friday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 8.49 and a beta of 0.26. International General Insurance Holdings Ltd. has a 52-week low of $18.45 and a 52-week high of $27.76. The firm's fifty day simple moving average is $24.01 and its two-hundred day simple moving average is $24.05.

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

International General Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Monday, September 1st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, August 29th. International General Insurance's dividend payout ratio (DPR) is presently 7.25%.

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.

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