Geode Capital Management LLC Purchases 859 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Geode Capital Management LLC increased its position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 3.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,877 shares of the company’s stock after buying an additional 859 shares during the period. Geode Capital Management LLC’s holdings in International General Insurance were worth $530,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IGIC. Victory Capital Management Inc. bought a new position in International General Insurance during the second quarter worth $229,000. Sei Investments Co. increased its stake in International General Insurance by 112.5% in the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock valued at $3,580,000 after purchasing an additional 135,400 shares in the last quarter. Interval Partners LP increased its stake in International General Insurance by 15.5% in the second quarter. Interval Partners LP now owns 114,650 shares of the company’s stock valued at $1,605,000 after purchasing an additional 15,379 shares in the last quarter. Marshall Wace LLP increased its stake in International General Insurance by 276.8% in the second quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock valued at $1,292,000 after purchasing an additional 67,809 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in International General Insurance in the second quarter valued at $411,000. Institutional investors own 54.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer assumed 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 for the company. Royal Bank of Canada lifted their price target on shares of International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

International General Insurance Trading Down 3.8 %

IGIC opened at $23.08 on Friday. International General Insurance Holdings Ltd. has a 1-year low of $11.51 and a 1-year high of $27.00. The company has a market cap of $1.06 billion, a P/E ratio of 7.54 and a beta of 0.27. The company has a fifty day moving average price of $24.48 and a two-hundred day moving average price of $19.95.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that International General Insurance Holdings Ltd. will post 2.91 EPS for the current fiscal year.

International General Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Tuesday, December 3rd. International General Insurance’s dividend payout ratio is currently 3.27%.

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.