Quantbot Technologies LP Takes Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Quantbot Technologies LP bought a new position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,665 shares of the company’s stock, valued at approximately $87,000.

Other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in International General Insurance in the 4th quarter worth approximately $427,000. Diamond Hill Capital Management Inc. boosted its holdings in International General Insurance by 8.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company’s stock worth $4,528,000 after buying an additional 14,890 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in International General Insurance during the fourth quarter worth $2,233,000. PNC Financial Services Group Inc. acquired a new stake in International General Insurance during the fourth quarter valued at $95,000. Finally, Navellier & Associates Inc. increased its holdings in International General Insurance by 73.4% in the fourth quarter. Navellier & Associates Inc. now owns 62,157 shares of the company’s stock valued at $1,477,000 after buying an additional 26,311 shares in the last quarter. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

International General Insurance Stock Performance

NASDAQ:IGIC opened at $26.31 on Tuesday. The stock has a market capitalization of $1.21 billion, a PE ratio of 8.60 and a beta of 0.26. International General Insurance Holdings Ltd. has a fifty-two week low of $12.83 and a fifty-two week high of $27.76. The company has a fifty day moving average of $25.66 and a two-hundred day moving average of $23.62.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $135.20 million for the quarter, compared to analysts’ expectations of $136.20 million. Research analysts forecast that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current year.

International General Insurance Announces Dividend

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

Wall Street Analyst Weigh In

IGIC has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on International General Insurance from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Oppenheimer raised their price objective 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.