Westwood Holdings Group Inc. Has $14.22 Million Stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Westwood Holdings Group Inc. lowered its position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 0.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,015,614 shares of the company’s stock after selling 2,934 shares during the period. Westwood Holdings Group Inc. owned about 2.20% of International General Insurance worth $14,219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IGIC. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in International General Insurance in the 2nd quarter valued at approximately $2,014,000. Sei Investments Co. raised its stake in shares of International General Insurance by 112.5% during the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock valued at $3,580,000 after acquiring an additional 135,400 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of International General Insurance by 35.1% during the second quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock worth $3,095,000 after purchasing an additional 57,399 shares during the period. Quadrature Capital Ltd grew its stake in shares of International General Insurance by 27.7% in the fourth quarter. Quadrature Capital Ltd now owns 120,636 shares of the company’s stock worth $1,554,000 after purchasing an additional 26,190 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in International General Insurance in the second quarter valued at $229,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price target on International General Insurance from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th.

International General Insurance Stock Performance

NASDAQ:IGIC opened at $19.12 on Friday. International General Insurance Holdings Ltd. has a fifty-two week low of $10.68 and a fifty-two week high of $19.21. The company has a 50 day simple moving average of $17.06 and a two-hundred day simple moving average of $14.98. The company has a market capitalization of $880.93 million, a PE ratio of 7.08 and a beta of 0.23.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.12. The company had revenue of $135.60 million during the quarter. International General Insurance had a net margin of 23.40% and a return on equity of 25.74%.

International General Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Monday, September 2nd were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Friday, August 30th. International General Insurance’s dividend payout ratio is 3.70%.

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.