Interval Partners LP Increases Stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Interval Partners LP raised its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 15.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,650 shares of the company’s stock after acquiring an additional 15,379 shares during the quarter. Interval Partners LP owned approximately 0.25% of International General Insurance worth $1,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sei Investments Co. grew its holdings in 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 purchasing an additional 135,400 shares during the period. Acadian Asset Management LLC grew its stake in shares of International General Insurance by 35.1% during the 2nd quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock valued at $3,095,000 after acquiring an additional 57,399 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in International General Insurance in the 2nd quarter worth approximately $2,014,000. Quadrature Capital Ltd raised its stake in International General Insurance by 27.7% during the 4th quarter. Quadrature Capital Ltd now owns 120,636 shares of the company’s stock worth $1,554,000 after acquiring an additional 26,190 shares during the period. Finally, PEAK6 Investments LLC lifted its holdings in International General Insurance by 33.8% during the first quarter. PEAK6 Investments LLC now owns 39,927 shares of the company’s stock valued at $541,000 after purchasing an additional 10,083 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

International General Insurance Stock Performance

NASDAQ:IGIC opened at $19.12 on Tuesday. The stock has a 50-day moving average price of $17.14 and a 200 day moving average price of $15.04. The stock has a market capitalization of $880.93 million, a P/E ratio of 7.08 and a beta of 0.23. International General Insurance Holdings Ltd. has a 12-month low of $10.68 and a 12-month high of $19.60.

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

International General Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, September 2nd were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Friday, August 30th. International General Insurance’s dividend payout ratio (DPR) is presently 3.70%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada increased their price objective on shares of International General Insurance from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th.

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.