Renaissance Technologies LLC Has $2.74 Million Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Renaissance Technologies LLC lifted its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC - Free Report) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,500 shares of the company's stock after acquiring an additional 21,000 shares during the quarter. Renaissance Technologies LLC owned about 0.25% of International General Insurance worth $2,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new position in International General Insurance during the 4th quarter valued at $60,000. Quantbot Technologies LP acquired a new stake in shares of International General Insurance in the fourth quarter valued at $87,000. PNC Financial Services Group Inc. bought a new position in International General Insurance during the fourth quarter valued at about $95,000. Geneos Wealth Management Inc. acquired a new position in International General Insurance during the fourth quarter worth about $177,000. Finally, JPMorgan Chase & Co. raised its position in International General Insurance by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company's stock worth $320,000 after acquiring an additional 3,562 shares in the last quarter. Institutional investors own 54.24% of the company's stock.

Analysts Set New Price Targets

IGIC has been the subject of several research reports. Oppenheimer raised their price objective on shares of International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Royal Bank of Canada raised their target price on shares of International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th.

International General Insurance Trading Down 2.3 %

Shares of International General Insurance stock traded down $0.56 on Wednesday, reaching $24.06. 186,581 shares of the company were exchanged, compared to its average volume of 96,079. International General Insurance Holdings Ltd. has a fifty-two week low of $12.92 and a fifty-two week high of $27.76. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 7.86 and a beta of 0.05. The stock has a fifty day moving average price of $25.02 and a 200-day moving average price of $24.41.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.01. The company had revenue of $135.20 million during the quarter, compared to analyst estimates of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. On average, equities analysts anticipate 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. Stockholders of record on Friday, April 4th were given a $0.85 dividend. The ex-dividend date was Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance's dividend payout ratio (DPR) is presently 3.34%.

International General Insurance 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.