Acadian Asset Management LLC Raises Stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Acadian Asset Management LLC boosted its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 35.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 221,120 shares of the company’s stock after purchasing an additional 57,399 shares during the quarter. Acadian Asset Management LLC’s holdings in International General Insurance were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Simplicity Wealth LLC purchased a new position in shares of International General Insurance during the second quarter worth $152,000. Virtu Financial LLC acquired a new stake in International General Insurance during the 1st quarter worth about $209,000. Victory Capital Management Inc. purchased a new position in shares of International General Insurance during the 2nd quarter valued at about $229,000. PEAK6 Investments LLC lifted its holdings in shares of International General Insurance by 33.8% in the 1st quarter. PEAK6 Investments LLC now owns 39,927 shares of the company’s stock valued at $541,000 after buying an additional 10,083 shares during the period. Finally, Navellier & Associates Inc. purchased a new stake in shares of International General Insurance in the fourth quarter worth about $761,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted 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

Shares of NASDAQ IGIC opened at $17.65 on Friday. The company has a market capitalization of $811.02 million, a PE ratio of 6.54 and a beta of 0.23. The company’s fifty day moving average price is $16.56 and its 200 day moving average price is $14.71. International General Insurance Holdings Ltd. has a 1 year low of $10.68 and a 1 year high of $18.74.

International General Insurance (NASDAQ:IGIC) last posted its earnings results on Tuesday, August 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter.

International General Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Monday, September 2nd will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, August 30th. International General Insurance’s dividend payout ratio (DPR) is presently 3.70%.

International General Insurance Company 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.