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

Marshall Wace LLP reduced its stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 28.2% in 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 52,337 shares of the company's stock after selling 20,522 shares during the period. Marshall Wace LLP owned 0.11% of International General Insurance worth $1,244,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IGIC. XTX Topco Ltd bought a new stake in shares of International General Insurance during the fourth quarter valued at approximately $384,000. Renaissance Technologies LLC increased its stake in shares of International General Insurance by 22.2% in 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. purchased a new position in International General Insurance during the 4th quarter valued at about $830,000. JPMorgan Chase & Co. lifted its position in International General Insurance by 32.2% during the 4th quarter. JPMorgan Chase & Co. now owns 22,291 shares of the company's stock valued at $530,000 after acquiring an additional 5,434 shares during the period. Finally, LPL Financial LLC bought a new stake in International General Insurance during the fourth quarter worth about $554,000. 54.24% of the stock is owned by institutional investors.

International General Insurance Price Performance

IGIC stock traded up $0.21 during trading on Monday, hitting $25.76. 13,920 shares of the stock traded hands, compared to its average volume of 95,307. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 8.40 and a beta of 0.24. International General Insurance Holdings Ltd. has a 1 year low of $13.48 and a 1 year high of $27.76. The firm's 50 day moving average is $24.96 and its two-hundred day moving average is $24.56.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted 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 firm had revenue of $135.20 million for the quarter, compared to analysts' expectations of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. As a group, analysts anticipate that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.

International General Insurance Dividend Announcement

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

Analysts Set New Price Targets

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