Westwood Holdings Group Inc. Sells 143,663 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Key Points

• Westwood Holdings Group Inc. reduced its stock position in International General Insurance Holdings Ltd. by 14.6% in the first quarter, now holding about 841,651 shares valued at approximately $22 million.
• In recent trading, International General Insurance shares opened at $23.47, with a one-year low of $15.47 and a high of $27.76; the company has a market cap of $1.05 billion.
• The company reported an EPS of $0.51 for the last quarter, missing analysts' expectations, and announced a $0.05 quarterly dividend on an annualized basis.

Westwood Holdings Group Inc. lessened its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 14.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 841,651 shares of the company's stock after selling 143,663 shares during the period. Westwood Holdings Group Inc. owned approximately 1.87% of International General Insurance worth $22,144,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of IGIC. Mackenzie Financial Corp raised its position in International General Insurance by 2.9% in the 1st quarter. Mackenzie Financial Corp now owns 35,945 shares of the company's stock valued at $946,000 after buying an additional 1,005 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of International General Insurance by 5.4% in the 4th quarter. Lazard Asset Management LLC now owns 22,559 shares of the company's stock worth $536,000 after acquiring an additional 1,152 shares in the last quarter. Tidal Investments LLC grew its stake in shares of International General Insurance by 9.1% in the 4th quarter. Tidal Investments LLC now owns 21,363 shares of the company's stock worth $508,000 after acquiring an additional 1,778 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of International General Insurance by 55.2% in the first quarter. PNC Financial Services Group Inc. now owns 6,208 shares of the company's stock valued at $163,000 after purchasing an additional 2,208 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of International General Insurance by 850.6% during the first quarter. US Bancorp DE now owns 4,753 shares of the company's stock valued at $125,000 after purchasing an additional 4,253 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors.

International General Insurance Stock Down 0.6%

International General Insurance stock traded down $0.14 during midday trading on Friday, hitting $23.80. 146,416 shares of the stock were exchanged, compared to its average volume of 120,416. International General Insurance Holdings Ltd. has a 52-week low of $15.47 and a 52-week high of $27.76. The business's 50-day moving average price is $23.48 and its 200-day moving average price is $24.40. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.62 and a beta of 0.27.

International General Insurance (NASDAQ:IGIC - Get Free Report) last announced 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). The business had revenue of $132.90 million during the quarter, compared to analysts' expectations of $140.40 million. International General Insurance had a return on equity of 17.40% and a net margin of 23.52%. On average, sell-side analysts predict that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.

International General Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. International General Insurance's dividend payout ratio (DPR) is currently 7.25%.

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.