LSV Asset Management Takes Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

LSV Asset Management purchased a new position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,790 shares of the company’s stock, valued at approximately $179,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Simplicity Wealth LLC purchased a new position in International General Insurance during the second quarter worth about $152,000. Virtu Financial LLC purchased a new position in International General Insurance during the first quarter worth about $209,000. Victory Capital Management Inc. purchased a new position in International General Insurance during the second quarter worth about $229,000. PEAK6 Investments LLC boosted 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 worth $541,000 after purchasing an additional 10,083 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new position in International General Insurance during the fourth quarter worth about $761,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

International General Insurance Stock Performance

Shares of IGIC stock opened at $17.65 on Friday. The firm has a market cap of $811.02 million, a price-to-earnings ratio of 6.54 and a beta of 0.23. International General Insurance Holdings Ltd. has a 52 week low of $10.68 and a 52 week high of $18.74. The firm’s 50-day simple moving average is $16.56 and its two-hundred day simple moving average is $14.71.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. The business 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%.

International General Insurance Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their price target on shares of International General Insurance from $17.00 to $19.00 and gave the stock an “outperform” rating in a report 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.