Russell Investments Group Ltd. Purchases 46,961 Shares of International General Insurance Holdings Ltd. $IGIC

Key Points

• Russell Investments Group Ltd. increased its stake in International General Insurance Holdings Ltd. by 13.0%, purchasing an additional 46,961 shares during the 1st quarter, bringing its total to 409,043 shares.
• International General Insurance reported a quarterly EPS of $0.51, missing the consensus estimate of $0.55, alongside revenues of $132.90 million compared to expected revenues of $140.40 million.
• The company declared a quarterly dividend of $0.05, which will be paid on September 16th, representing a yield of 0.8% and an annualized dividend of $0.20.

Russell Investments Group Ltd. grew its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 13.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 409,043 shares of the company's stock after acquiring an additional 46,961 shares during the quarter. Russell Investments Group Ltd. owned about 0.91% of International General Insurance worth $10,762,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of International General Insurance by 33.6% during the 1st quarter. Invesco Ltd. now owns 43,599 shares of the company's stock valued at $1,147,000 after acquiring an additional 10,954 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of International General Insurance by 19.3% during the 1st quarter. Atria Wealth Solutions Inc. now owns 72,750 shares of the company's stock valued at $1,914,000 after acquiring an additional 11,750 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of 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 acquiring an additional 2,208 shares during the period. US Bancorp DE lifted its position in shares of International General Insurance by 850.6% during the 1st quarter. US Bancorp DE now owns 4,753 shares of the company's stock worth $125,000 after buying an additional 4,253 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of International General Insurance by 2.9% during the 1st quarter. Mackenzie Financial Corp now owns 35,945 shares of the company's stock worth $946,000 after buying an additional 1,005 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors.

International General Insurance Price Performance

Shares of IGIC stock traded up $0.16 on Friday, hitting $25.26. 60,112 shares of the company's stock were exchanged, compared to its average volume of 110,915. International General Insurance Holdings Ltd. has a 12 month low of $17.01 and a 12 month high of $27.76. The stock has a market cap of $1.13 billion, a P/E ratio of 9.15 and a beta of 0.27. The company has a 50 day moving average of $23.77 and a 200 day moving average of $24.36.

International General Insurance (NASDAQ:IGIC - Get Free Report) last announced its quarterly earnings data 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). International General Insurance had a return on equity of 17.40% and a net margin of 23.52%.The business had revenue of $132.90 million for the quarter, compared to the consensus estimate of $140.40 million. Sell-side analysts predict that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.

International General Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Monday, September 1st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th. International General Insurance's dividend payout ratio is currently 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.