Sei Investments Co. Lowers Stock Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Sei Investments Co. decreased its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 435,742 shares of the company’s stock after selling 5,491 shares during the period. Sei Investments Co. owned about 0.95% of International General Insurance worth $10,353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in International General Insurance in the fourth quarter valued at approximately $87,000. Virtu Financial LLC purchased a new stake in International General Insurance during the 4th quarter worth approximately $427,000. Diamond Hill Capital Management Inc. boosted its stake in shares of International General Insurance by 8.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company’s stock worth $4,528,000 after acquiring an additional 14,890 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of International General Insurance during the fourth quarter worth approximately $2,233,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of International General Insurance during the fourth quarter worth $95,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

International General Insurance Price Performance

Shares of IGIC stock opened at $25.88 on Friday. International General Insurance Holdings Ltd. has a 1-year low of $12.83 and a 1-year high of $27.76. The company has a 50-day moving average of $25.62 and a two-hundred day moving average of $23.52. The firm has a market cap of $1.19 billion, a PE ratio of 8.46 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $135.20 million during the quarter, compared to analysts’ expectations of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. Sell-side analysts anticipate that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.

International General Insurance Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be issued a $0.85 dividend. This represents a yield of 0.4%. The ex-dividend date is Friday, April 4th. International General Insurance’s dividend payout ratio (DPR) is presently 3.34%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Oppenheimer raised their target price on International General Insurance from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada upped their price objective on International General Insurance from $28.00 to $31.00 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.