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

Two Sigma Investments LP lifted its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 39.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,351 shares of the company's stock after purchasing an additional 12,231 shares during the period. Two Sigma Investments LP owned 0.09% of International General Insurance worth $1,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IGIC. Quantbot Technologies LP bought a new stake in International General Insurance during the 4th quarter valued at $87,000. PNC Financial Services Group Inc. bought a new stake in shares of International General Insurance in the fourth quarter valued at about $95,000. State of Wyoming bought a new stake in shares of International General Insurance in the fourth quarter valued at about $107,000. BNP Paribas Financial Markets purchased a new stake in International General Insurance in the fourth quarter worth about $199,000. Finally, Cubist Systematic Strategies LLC bought a new position in International General Insurance during the 4th quarter worth about $201,000. Institutional investors own 54.24% of the company's stock.

International General Insurance Trading Up 0.4%

Shares of NASDAQ:IGIC opened at $22.82 on Friday. The company has a market capitalization of $1.03 billion, a PE 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. The business's fifty day simple moving average is $23.91 and its 200-day simple moving average is $24.72.

International General Insurance (NASDAQ:IGIC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $129.00 million for the quarter, compared to the consensus estimate of $135.50 million. Research analysts predict that International General Insurance Holdings Ltd. will post 3.18 EPS for the current year.

International General Insurance Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, June 2nd. International General Insurance's dividend payout ratio is currently 7.35%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of International General Insurance from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Oppenheimer increased their price objective on shares of International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th.

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.

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