LPL Financial LLC Buys New Stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

LPL Financial LLC acquired a new position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,318 shares of the company's stock, valued at approximately $554,000. LPL Financial LLC owned about 0.05% of International General Insurance as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in International General Insurance by 3.2% during the third quarter. Geode Capital Management LLC now owns 27,877 shares of the company's stock worth $530,000 after buying an additional 859 shares during the period. Tidal Investments LLC purchased a new stake in shares of International General Insurance during the third quarter worth about $372,000. JPMorgan Chase & Co. raised its position in shares of International General Insurance by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock valued at $320,000 after purchasing an additional 3,562 shares in the last quarter. ORG Wealth Partners LLC bought a new position in International General Insurance during the 4th quarter valued at $60,000. Finally, Geneos Wealth Management Inc. acquired a new position in International General Insurance during the 4th quarter worth $177,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

International General Insurance Price Performance

Shares of NASDAQ:IGIC traded down $0.56 during trading on Wednesday, reaching $24.06. 186,581 shares of the company's stock traded hands, compared to its average volume of 96,079. The stock has a market capitalization of $1.09 billion, a P/E ratio of 7.86 and a beta of 0.05. International General Insurance Holdings Ltd. has a 12 month low of $12.92 and a 12 month high of $27.76. The company has a 50 day moving average of $25.02 and a 200-day moving average of $24.41.

International General Insurance (NASDAQ:IGIC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, topping 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 business had revenue of $135.20 million for the quarter, compared to analysts' expectations of $136.20 million. Equities research analysts predict that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.

International General Insurance Dividend Announcement

The firm also recently announced a -- dividend, which was paid on Tuesday, April 22nd. Investors of record on Friday, April 4th were given a $0.85 dividend. 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 currently 3.34%.

Analyst Ratings Changes

A number of equities analysts recently commented on IGIC shares. Royal Bank of Canada lifted 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 price target on International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 27th.

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.