International General Insurance Holdings Ltd. (NASDAQ:IGIC) Shares Sold by Westwood Holdings Group Inc.

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. decreased its holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 841,651 shares of the company's stock after selling 143,663 shares during the quarter. Westwood Holdings Group Inc. owned about 1.87% of International General Insurance worth $22,144,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in International General Insurance by 2.9% in the first quarter. Mackenzie Financial Corp now owns 35,945 shares of the company's stock worth $946,000 after acquiring an additional 1,005 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of International General Insurance by 5.4% in the fourth quarter. Lazard Asset Management LLC now owns 22,559 shares of the company's stock valued at $536,000 after buying an additional 1,152 shares in the last quarter. Tidal Investments LLC increased its position in shares of International General Insurance by 9.1% in the fourth quarter. Tidal Investments LLC now owns 21,363 shares of the company's stock valued at $508,000 after buying an additional 1,778 shares in the last quarter. PNC Financial Services Group Inc. increased its position 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 buying an additional 2,208 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of International General Insurance by 850.6% in the first quarter. US Bancorp DE now owns 4,753 shares of the company's stock valued at $125,000 after buying an additional 4,253 shares in the last quarter. Hedge funds and other institutional investors own 54.24% of the company's stock.

International General Insurance Trading Down 0.6%

Shares of IGIC stock traded down $0.14 during mid-day trading on Friday, reaching $23.80. The stock had a trading volume of 146,416 shares, compared to its average volume of 125,971. International General Insurance Holdings Ltd. has a 12-month low of $15.47 and a 12-month high of $27.76. The company has a market cap of $1.06 billion, a P/E ratio of 8.62 and a beta of 0.27. The business has a 50-day simple moving average of $23.49 and a 200 day simple moving average of $24.39.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.04). International General Insurance had a net margin of 23.52% and a return on equity of 17.40%. The company had revenue of $132.90 million for the quarter, compared to analyst estimates of $140.40 million. Research analysts anticipate that International General Insurance Holdings Ltd. will post 3.18 EPS for the current year.

International General Insurance Dividend Announcement

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