New Vernon Investment Management LLC Cuts Stock Holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

New Vernon Investment Management LLC trimmed its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 94.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,253 shares of the company's stock after selling 74,770 shares during the quarter. New Vernon Investment Management LLC's holdings in International General Insurance were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. grew its stake in International General Insurance by 8.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company's stock worth $4,528,000 after purchasing an additional 14,890 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in International General Insurance by 0.3% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company's stock worth $4,510,000 after purchasing an additional 525 shares during the period. Renaissance Technologies LLC grew its stake in International General Insurance by 22.2% during the fourth quarter. Renaissance Technologies LLC now owns 115,500 shares of the company's stock worth $2,744,000 after purchasing an additional 21,000 shares during the period. Sowell Financial Services LLC acquired a new stake in International General Insurance during the fourth quarter worth approximately $2,233,000. Finally, Navellier & Associates Inc. grew its stake in International General Insurance by 73.4% during the fourth quarter. Navellier & Associates Inc. now owns 62,157 shares of the company's stock worth $1,477,000 after purchasing an additional 26,311 shares during the period. 54.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IGIC shares. Royal Bank of Canada raised 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. Oppenheimer raised their price objective on 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 Stock Performance

International General Insurance stock traded down $0.22 during mid-day trading on Wednesday, reaching $24.40. The stock had a trading volume of 31,163 shares, compared to its average volume of 95,364. International General Insurance Holdings Ltd. has a fifty-two week low of $12.83 and a fifty-two week high of $27.76. The stock's 50-day simple moving average is $25.06 and its 200-day simple moving average is $24.42. The firm has a market capitalization of $1.10 billion, a PE ratio of 7.97 and a beta of 0.05.

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

International General Insurance Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance's payout ratio is 3.34%.

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.