Marshall Wace LLP Sells 20,522 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Marshall Wace LLP trimmed its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 28.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,337 shares of the company's stock after selling 20,522 shares during the period. Marshall Wace LLP owned about 0.11% of International General Insurance worth $1,244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in International General Insurance in the 4th quarter valued at approximately $384,000. Renaissance Technologies LLC grew its stake in shares of International General Insurance by 22.2% during 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. Franklin Resources Inc. acquired a new stake in shares of International General Insurance in the fourth quarter valued at approximately $830,000. JPMorgan Chase & Co. lifted its position in shares of International General Insurance by 32.2% in the fourth quarter. JPMorgan Chase & Co. now owns 22,291 shares of the company's stock worth $530,000 after purchasing an additional 5,434 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in International General Insurance during the fourth quarter worth $554,000. Institutional investors and hedge funds own 54.24% of the company's stock.

International General Insurance Stock Performance

International General Insurance stock traded up $1.46 during midday trading on Friday, reaching $25.55. 134,947 shares of the company's stock were exchanged, compared to its average volume of 95,701. The stock's 50-day simple moving average is $24.98 and its 200 day simple moving average is $24.45. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 8.35 and a beta of 0.05. International General Insurance Holdings Ltd. has a 52 week low of $13.44 and a 52 week high of $27.76.

International General Insurance (NASDAQ:IGIC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.01. The business had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. Research analysts forecast that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current year.

International General Insurance Announces Dividend

The firm also recently declared a -- dividend, which was paid on Tuesday, April 22nd. Investors of record on Friday, April 4th were given a dividend of $0.85 per share. This represents a yield of 0.4%. The ex-dividend date of this dividend was Friday, April 4th. International General Insurance's dividend payout ratio is 3.34%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IGIC. Oppenheimer lifted 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 upped their price target on shares of International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th.

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.