Two Sigma Investments LP Grows Stock Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Two Sigma Investments LP boosted its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 39.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,351 shares of the company's stock after purchasing an additional 12,231 shares during the quarter. Two Sigma Investments LP owned about 0.09% of International General Insurance worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Shay Capital LLC grew its position in shares of 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 buying an additional 26,210 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in 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 acquiring an additional 14,890 shares in the last quarter. Renaissance Technologies LLC grew its holdings in International General Insurance by 22.2% in the fourth quarter. Renaissance Technologies LLC now owns 115,500 shares of the company's stock worth $2,744,000 after purchasing an additional 21,000 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of International General Insurance during the fourth quarter worth $2,233,000. Finally, Navellier & Associates Inc. lifted its holdings in shares of International General Insurance by 73.4% during the 4th quarter. Navellier & Associates Inc. now owns 62,157 shares of the company's stock valued at $1,477,000 after purchasing an additional 26,311 shares during the last quarter. Hedge funds and other institutional investors own 54.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IGIC. Oppenheimer upped their target price on International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Royal Bank of Canada boosted their price target on International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th.

International General Insurance Stock Down 1.1%

Shares of IGIC traded down $0.25 during trading hours on Monday, reaching $22.87. 194,832 shares of the company traded hands, compared to its average volume of 104,757. The business has a fifty day moving average price of $23.84 and a 200-day moving average price of $24.70. International General Insurance Holdings Ltd. has a 12-month low of $13.85 and a 12-month high of $27.76. The stock has a market capitalization of $1.03 billion, a P/E ratio of 7.47 and a beta of 0.25.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.05). International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The firm had revenue of $129.00 million for the quarter, compared to analysts' expectations of $135.50 million. As a group, research 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 Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, June 2nd. International General Insurance's dividend payout ratio (DPR) is currently 7.35%.

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.