JPMorgan Chase & Co. Raises Holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

JPMorgan Chase & Co. increased its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGICFree Report) by 26.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,857 shares of the company’s stock after acquiring an additional 3,562 shares during the period. JPMorgan Chase & Co.’s holdings in International General Insurance were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. acquired a new stake in International General Insurance during the third quarter valued at $3,338,000. Sei Investments Co. boosted its stake in shares of International General Insurance by 112.5% during the 2nd quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock worth $3,580,000 after acquiring an additional 135,400 shares in the last quarter. Marshall Wace LLP grew its position in shares of International General Insurance by 276.8% during the 2nd quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock valued at $1,292,000 after acquiring an additional 67,809 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of International General Insurance by 31.6% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,300 shares of the company’s stock valued at $3,597,000 after purchasing an additional 45,455 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in International General Insurance in the 2nd quarter worth about $411,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IGIC has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Oppenheimer initiated coverage on shares of International General Insurance in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target on the stock.

Get Our Latest Research Report on International General Insurance

International General Insurance Trading Down 0.1 %

Shares of International General Insurance stock opened at $25.44 on Friday. International General Insurance Holdings Ltd. has a twelve month low of $11.51 and a twelve month high of $27.00. The firm has a market capitalization of $1.17 billion, a PE ratio of 8.31 and a beta of 0.27. The firm’s 50-day moving average price is $24.55 and its 200 day moving average price is $20.87.

International General Insurance (NASDAQ:IGICGet Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.11. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The business had revenue of $138.10 million for the quarter. On average, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.10 dividend on an annualized basis and a yield of 0.39%. International General Insurance’s payout ratio is 3.27%.

International General Insurance Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for International General Insurance (NASDAQ:IGIC)

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