Quadrature Capital Ltd Sells 82,470 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Quadrature Capital Ltd lessened its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 85.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,200 shares of the company’s stock after selling 82,470 shares during the quarter. Quadrature Capital Ltd’s holdings in International General Insurance were worth $270,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new position in International General Insurance in the 3rd quarter worth approximately $265,000. Diamond Hill Capital Management Inc. purchased a new stake in shares of International General Insurance during the third quarter worth $3,338,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of International General Insurance by 31.6% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,300 shares of the company’s stock worth $3,597,000 after acquiring an additional 45,455 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of International General Insurance in the third quarter valued at $303,000. Finally, Mackenzie Financial Corp bought a new stake in shares of International General Insurance during the 2nd quarter valued at $411,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Analysts Set New Price Targets

IGIC has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Oppenheimer assumed coverage on shares of International General Insurance in a report on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target for the company.

International General Insurance Stock Up 0.4 %

NASDAQ:IGIC opened at $24.73 on Wednesday. The stock has a market cap of $1.14 billion, a P/E ratio of 8.11 and a beta of 0.25. The business’s 50-day moving average price is $22.51 and its two-hundred day moving average price is $18.36. International General Insurance Holdings Ltd. has a twelve month low of $11.51 and a twelve month high of $27.00.

International General Insurance (NASDAQ:IGIC) last announced its earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The business had revenue of $138.10 million for the quarter. On average, equities research analysts expect that International General Insurance Holdings Ltd. will post 2.91 EPS for the current fiscal year.

International General Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Tuesday, December 3rd. 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.