Mackenzie Financial Corp Buys 15,529 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Mackenzie Financial Corp raised its holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 80.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,940 shares of the company's stock after buying an additional 15,529 shares during the period. Mackenzie Financial Corp owned about 0.08% of International General Insurance worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Shay Capital LLC lifted its stake in shares of International General Insurance by 13.1% in the fourth quarter. Shay Capital LLC now owns 226,759 shares of the company's stock valued at $5,388,000 after buying an additional 26,210 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of International General Insurance by 8.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company's stock valued at $4,528,000 after buying an additional 14,890 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of International General Insurance by 0.3% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company's stock valued at $4,510,000 after buying an additional 525 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of International General Insurance by 22.2% in the fourth quarter. Renaissance Technologies LLC now owns 115,500 shares of the company's stock valued at $2,744,000 after buying an additional 21,000 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in shares of International General Insurance in the fourth quarter valued at $2,233,000. 54.24% of the stock is owned by institutional investors.

International General Insurance Price Performance

Shares of IGIC stock traded up $0.08 on Thursday, hitting $22.82. The stock had a trading volume of 127,417 shares, compared to its average volume of 103,820. The business has a 50 day moving average of $23.91 and a 200 day moving average of $24.72. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 7.46 and a beta of 0.25. International General Insurance Holdings Ltd. has a 12-month low of $13.82 and a 12-month high of $27.76.

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 return on equity of 22.78% and a net margin of 26.24%. The company had revenue of $129.00 million for the quarter, compared to analysts' expectations of $135.50 million. As a group, research analysts expect that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.

International General Insurance Announces Dividend

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

Analyst Ratings Changes

IGIC has been the subject of several analyst reports. Oppenheimer increased their target price 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 shares of International General Insurance from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, February 27th.

About International General Insurance

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.