Exchange Traded Concepts LLC Takes Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Exchange Traded Concepts LLC purchased a new position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,927 shares of the company’s stock, valued at approximately $303,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in shares of International General Insurance by 112.5% in the 2nd 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 in the last quarter. Acadian Asset Management LLC grew its position in International General Insurance by 35.1% in the second 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 last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in International General Insurance during the second quarter worth about $2,014,000. Interval Partners LP lifted its holdings in shares of International General Insurance by 15.5% in the second quarter. Interval Partners LP now owns 114,650 shares of the company’s stock worth $1,605,000 after acquiring an additional 15,379 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of International General Insurance by 276.8% in the 2nd quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock valued at $1,292,000 after purchasing an additional 67,809 shares in the last quarter. 54.24% of the stock is owned by institutional investors.

International General Insurance Stock Down 1.0 %

NASDAQ IGIC opened at $19.15 on Monday. The company has a market cap of $879.94 million, a price-to-earnings ratio of 7.51 and a beta of 0.23. International General Insurance Holdings Ltd. has a twelve month low of $10.76 and a twelve month high of $19.69. The business’s fifty day moving average is $18.19 and its 200 day moving average is $15.82.

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

International General Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Monday, September 2nd were paid 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 payout ratio is currently 3.92%.

Analyst Ratings Changes

Separately, Royal Bank of Canada upped 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 report on Thursday, August 8th.

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.