Boston Partners Lowers Holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Boston Partners trimmed its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 38.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,662 shares of the company’s stock after selling 20,688 shares during the quarter. Boston Partners owned 0.07% of International General Insurance worth $800,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IGIC. Sowell Financial Services LLC purchased a new stake in shares of International General Insurance in the 4th quarter worth $2,233,000. Navellier & Associates Inc. lifted its holdings in shares of International General Insurance by 73.4% in the 4th quarter. Navellier & Associates Inc. now owns 62,157 shares of the company’s stock worth $1,477,000 after buying an additional 26,311 shares during the period. Tidal Investments LLC purchased a new stake in shares of International General Insurance in the 3rd quarter worth $372,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of International General Insurance by 8.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company’s stock worth $4,528,000 after buying an additional 14,890 shares during the period. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of International General Insurance in the 3rd quarter worth $265,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IGIC shares. Oppenheimer boosted their price target on International General Insurance from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Royal Bank of Canada boosted their price target on International General Insurance from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th.

International General Insurance Trading Down 2.9 %

IGIC opened at $26.23 on Friday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 8.57 and a beta of 0.26. International General Insurance Holdings Ltd. has a 12 month low of $12.83 and a 12 month high of $27.76. The stock has a fifty day moving average price of $25.40 and a 200-day moving average price of $23.22.

International General Insurance (NASDAQ:IGIC) last announced its earnings results on Tuesday, February 25th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The company had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million. On average, equities research analysts forecast that International General Insurance Holdings Ltd. will post 3.18 EPS for the current year.

International General Insurance Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be given a dividend of $0.85 per share. This represents a yield of 0.4%. The ex-dividend date is Friday, April 4th. International General Insurance’s dividend payout ratio is currently 3.34%.

About International General Insurance

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.