Renaissance Technologies LLC Has $2.84 Million Stake in International General Insurance Holdings Ltd. $IGIC

Renaissance Technologies LLC lowered its stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 18.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,257 shares of the company’s stock after selling 26,443 shares during the period. Renaissance Technologies LLC’s holdings in International General Insurance were worth $2,841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in International General Insurance by 0.4% during the 4th quarter. Russell Investments Group Ltd. now owns 396,512 shares of the company’s stock worth $9,948,000 after buying an additional 1,661 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of International General Insurance by 35.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 370,316 shares of the company’s stock valued at $9,291,000 after buying an additional 96,536 shares during the period. Shay Capital LLC raised its position in shares of International General Insurance by 13.1% during the third quarter. Shay Capital LLC now owns 237,694 shares of the company’s stock worth $5,515,000 after acquiring an additional 27,444 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of International General Insurance by 16.7% during the third quarter. Raymond James Financial Inc. now owns 60,225 shares of the company’s stock worth $1,397,000 after acquiring an additional 8,639 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of International General Insurance by 214.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 46,436 shares of the company’s stock valued at $1,165,000 after acquiring an additional 31,675 shares during the period. Institutional investors and hedge funds own 54.24% of the company’s stock.

International General Insurance Price Performance

IGIC stock opened at $27.06 on Monday. International General Insurance Holdings Ltd. has a twelve month low of $20.82 and a twelve month high of $29.58. The company has a market cap of $1.15 billion, a P/E ratio of 10.87 and a beta of 0.11. The business’s fifty day moving average is $26.75 and its 200-day moving average is $25.63.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.17). The company had revenue of $143.50 million for the quarter, compared to analyst estimates of $114.90 million. International General Insurance had a return on equity of 17.03% and a net margin of 20.68%. Research analysts anticipate that International General Insurance Holdings Ltd. will post 2.88 earnings per share for the current fiscal year.

International General Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.075 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.1%. International General Insurance’s dividend payout ratio (DPR) is 12.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IGIC shares. Zacks Research cut International General Insurance from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Royal Bank Of Canada boosted their price objective on International General Insurance from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of International General Insurance in a research report on Friday, July 31st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.00.

International General Insurance Company Profile

International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.