Legal & General Group Plc lowered its holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 56.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,869 shares of the company's stock after selling 122,601 shares during the quarter. Legal & General Group Plc owned approximately 0.21% of International General Insurance worth $2,278,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in International General Insurance during the fourth quarter valued at approximately $60,000. Quantbot Technologies LP purchased a new stake in shares of International General Insurance during the 4th quarter valued at $87,000. PNC Financial Services Group Inc. acquired a new stake in shares of International General Insurance in the 4th quarter worth $95,000. Geneos Wealth Management Inc. purchased a new position in International General Insurance during the 4th quarter worth $177,000. Finally, JPMorgan Chase & Co. increased its position in International General Insurance by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock valued at $320,000 after buying an additional 3,562 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
IGIC has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Oppenheimer boosted their target price on shares of International General Insurance from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th.
Read Our Latest Report on International General Insurance
International General Insurance Price Performance
IGIC traded down $0.56 on Wednesday, reaching $24.06. 186,581 shares of the stock were exchanged, compared to its average volume of 96,079. The company's 50-day moving average price is $25.02 and its 200 day moving average price is $24.41. The firm has a market capitalization of $1.09 billion, a PE ratio of 7.86 and a beta of 0.05. International General Insurance Holdings Ltd. has a fifty-two week low of $12.92 and a fifty-two week high of $27.76.
International General Insurance (NASDAQ:IGIC - Get Free Report) last issued its 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. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The firm had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million. As a group, equities 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 disclosed a -- dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th were paid a dividend of $0.85 per share. The ex-dividend date was Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance's payout ratio is currently 3.34%.
About International General Insurance
(
Free Report)
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.
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