Quadrature Capital Ltd Has $270,000 Stock Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. grew its position in International General Insurance by 112.5% in the 2nd 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 during the period. Acadian Asset Management LLC grew its holdings in shares of International General Insurance by 35.1% during the second quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock valued at $3,095,000 after buying an additional 57,399 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of International General Insurance by 31.6% during 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 in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of International General Insurance in the 3rd quarter worth about $3,338,000. Finally, Interval Partners LP lifted its position in International General Insurance by 15.5% in the 2nd quarter. Interval Partners LP now owns 114,650 shares of the company’s stock valued at $1,605,000 after acquiring an additional 15,379 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on IGIC. Royal Bank of Canada increased their price objective on International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Oppenheimer assumed coverage on International General Insurance in a research report on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target for the company.

International General Insurance Stock Performance

Shares of IGIC stock opened at $24.73 on Wednesday. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 8.11 and a beta of 0.25. International General Insurance Holdings Ltd. has a 52-week low of $11.51 and a 52-week high of $27.00. The company has a 50-day simple moving average of $22.51 and a two-hundred day simple moving average of $18.36.

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

International General Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid 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 of this dividend is Tuesday, December 3rd. International General Insurance’s payout ratio is 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.