Russell Investments Group Ltd. Boosts Stock Position in 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. increased its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 13.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royce & Associates LP increased its holdings in International General Insurance by 10.1% in the 1st quarter. Royce & Associates LP now owns 2,636,063 shares of the company's stock worth $69,355,000 after acquiring an additional 242,104 shares in the last quarter. Shay Capital LLC increased its holdings in International General Insurance by 13.1% in 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 in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in International General Insurance by 16.1% in 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 in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in International General Insurance by 3.2% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 195,890 shares of the company's stock worth $5,154,000 after acquiring an additional 6,065 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in International General Insurance by 22.2% in the 4th quarter. Renaissance Technologies LLC now owns 115,500 shares of the company's stock worth $2,744,000 after acquiring an additional 21,000 shares in the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

International General Insurance Stock Performance

IGIC traded up $0.16 during trading on Friday, reaching $25.26. 60,112 shares of the company traded hands, compared to its average volume of 109,836. The company has a market cap of $1.13 billion, a P/E ratio of 9.15 and a beta of 0.27. International General Insurance Holdings Ltd. has a 12-month low of $17.01 and a 12-month high of $27.76. The firm has a fifty day simple moving average of $23.77 and a 200 day simple moving average of $24.35.

International General Insurance (NASDAQ:IGIC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $132.90 million for the quarter, compared to the consensus estimate of $140.40 million. As a group, sell-side 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 business also recently announced 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. The ex-dividend date is Friday, August 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. International General Insurance's dividend payout ratio is currently 7.25%.

International General Insurance 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.