Exchange Traded Concepts LLC Sells 3,889 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Exchange Traded Concepts LLC cut its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 24.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,038 shares of the company’s stock after selling 3,889 shares during the quarter. Exchange Traded Concepts LLC’s holdings in International General Insurance were worth $286,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mackenzie Financial Corp bought a new stake in International General Insurance during the second quarter worth about $411,000. Marshall Wace LLP increased 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 worth $1,292,000 after purchasing an additional 67,809 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of International General Insurance by 31.6% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,300 shares of the company’s stock worth $3,597,000 after purchasing an additional 45,455 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of International General Insurance by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock valued at $530,000 after buying an additional 859 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new position in shares of International General Insurance in the third quarter valued at $3,338,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

International General Insurance Trading Down 1.5 %

Shares of NASDAQ IGIC opened at $25.07 on Friday. The company has a market capitalization of $1.15 billion, a P/E ratio of 8.19 and a beta of 0.27. International General Insurance Holdings Ltd. has a 12 month low of $11.51 and a 12 month high of $27.00. The stock has a 50 day moving average of $24.54 and a 200-day moving average of $20.90.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. The firm had revenue of $138.10 million during the quarter. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. Analysts predict that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.

International General Insurance Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.40%. International General Insurance’s dividend payout ratio is currently 3.27%.

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.