Russell Investments Group Ltd. Lowers Holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Russell Investments Group Ltd. trimmed its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 16.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,835 shares of the company's stock after selling 79,063 shares during the period. Russell Investments Group Ltd. owned approximately 0.87% of International General Insurance worth $5,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ballast Asset Management LP bought a new position in shares of International General Insurance during the third quarter valued at approximately $2,000,000. Quadrature Capital Ltd bought a new position in shares of International General Insurance during the third quarter valued at approximately $1,063,000. Atria Wealth Solutions Inc. increased its stake in shares of International General Insurance by 30.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 86,000 shares of the company's stock valued at $1,108,000 after purchasing an additional 20,000 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of International General Insurance by 492.4% during the third quarter. Acadian Asset Management LLC now owns 67,102 shares of the company's stock valued at $756,000 after purchasing an additional 55,775 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of International General Insurance during the third quarter valued at approximately $142,000. 54.24% of the stock is owned by institutional investors.

International General Insurance Stock Performance

Shares of International General Insurance stock traded down $0.12 on Friday, hitting $14.42. 31,819 shares of the company's stock were exchanged, compared to its average volume of 66,130. The stock has a market capitalization of $664.33 million, a PE ratio of 5.76 and a beta of 0.20. The company has a 50-day simple moving average of $13.30 and a 200-day simple moving average of $12.71. International General Insurance Holdings Ltd. has a 1 year low of $8.05 and a 1 year high of $14.71.

International General Insurance (NASDAQ:IGIC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.65 EPS for the quarter. International General Insurance had a return on equity of 28.04% and a net margin of 25.06%. The business had revenue of $122.80 million during the quarter.

International General Insurance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were given a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 14.15%. This is a boost from International General Insurance's previous quarterly dividend of $0.01. International General Insurance's dividend payout ratio (DPR) is currently 1.57%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an "outperform" rating and set a $15.00 target price on shares of International General Insurance in a research note on Thursday, March 14th.

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.