Sei Investments Co. grew its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC – Free Report) by 112.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,719 shares of the company’s stock after acquiring an additional 135,400 shares during the quarter. Sei Investments Co. owned about 0.56% of International General Insurance worth $3,580,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in IGIC. Quadrature Capital Ltd increased its position in International General Insurance by 27.7% during the 4th quarter. Quadrature Capital Ltd now owns 120,636 shares of the company’s stock valued at $1,554,000 after purchasing an additional 26,190 shares during the period. Acadian Asset Management LLC boosted its holdings in International General Insurance by 35.8% in the first quarter. Acadian Asset Management LLC now owns 163,721 shares of the company’s stock valued at $2,216,000 after purchasing an additional 43,204 shares during the last quarter. PEAK6 Investments LLC boosted its holdings in International General Insurance by 33.8% in 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 during the last quarter. Virtu Financial LLC purchased a new stake in shares of International General Insurance during the 1st quarter worth about $209,000. Finally, Simplicity Wealth LLC purchased a new stake in shares of International General Insurance during the 2nd quarter worth about $152,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.
Shares of IGIC stock opened at $18.67 on Thursday. International General Insurance Holdings Ltd. has a 52 week low of $10.68 and a 52 week high of $19.60. The firm has a 50 day moving average of $17.55 and a two-hundred day moving average of $15.32. The stock has a market capitalization of $860.20 million, a PE ratio of 6.91 and a beta of 0.23.
International General Insurance (NASDAQ:IGIC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The company had revenue of $135.60 million for the quarter. International General Insurance had a net margin of 23.40% and a return on equity of 25.74%.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.025 per share. The ex-dividend date was Friday, August 30th. This represents a $0.10 annualized dividend and a yield of 0.54%. International General Insurance’s dividend payout ratio is currently 3.70%.
Separately, Royal Bank of Canada increased their price objective on shares of International General Insurance from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, August 8th.
Check Out Our Latest Research Report on 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.
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