Royce & Associates LP increased its stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,636,063 shares of the company's stock after acquiring an additional 242,104 shares during the quarter. International General Insurance makes up about 0.8% of Royce & Associates LP's portfolio, making the stock its 10th biggest holding. Royce & Associates LP owned 5.84% of International General Insurance worth $69,355,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in IGIC. CWA Asset Management Group LLC acquired a new stake in International General Insurance during the 1st quarter worth $1,112,000. Franklin Resources Inc. purchased a new position in shares of International General Insurance during the 4th quarter worth $830,000. Diamond Hill Capital Management Inc. raised its holdings in shares of International General Insurance by 16.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 221,271 shares of the company's stock worth $5,822,000 after acquiring an additional 30,708 shares during the period. Shay Capital LLC raised its holdings in shares of International General Insurance by 13.1% during the 4th quarter. Shay Capital LLC now owns 226,759 shares of the company's stock worth $5,388,000 after acquiring an additional 26,210 shares during the period. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of International General Insurance during the 4th quarter worth $605,000. Institutional investors and hedge funds own 54.24% of the company's stock.
International General Insurance Stock Performance
Shares of NASDAQ IGIC traded down $0.20 during trading on Thursday, hitting $23.80. 23,666 shares of the company were exchanged, compared to its average volume of 118,727. International General Insurance Holdings Ltd. has a 12-month low of $15.00 and a 12-month high of $27.76. The company has a fifty day moving average price of $23.42 and a 200-day moving average price of $24.42. The firm has a market capitalization of $1.06 billion, a PE ratio of 8.75 and a beta of 0.24.
International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.05). International General Insurance had a return on equity of 19.54% and a net margin of 23.16%. The company had revenue of $129.00 million for the quarter, compared to analysts' expectations of $135.50 million. Research analysts anticipate that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.
International General Insurance Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.20 annualized dividend and a yield of 0.84%. International General Insurance's dividend payout ratio (DPR) is currently 7.35%.
International General Insurance Profile
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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.
Further Reading
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