ORG Wealth Partners LLC Acquires Shares of 2,535 International General Insurance Holdings Ltd. (NASDAQ:IGIC)

ORG Wealth Partners LLC acquired a new stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) during the fourth quarter, Holdings Channel reports. The firm acquired 2,535 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new position in shares of International General Insurance in the 2nd quarter worth approximately $411,000. Marshall Wace LLP boosted its holdings in shares of International General Insurance by 276.8% in the 2nd quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock worth $1,292,000 after acquiring an additional 67,809 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of International General Insurance by 112.5% in the 2nd quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock worth $3,580,000 after acquiring an additional 135,400 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of International General Insurance by 35.1% in the 2nd quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock worth $3,095,000 after acquiring an additional 57,399 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of International General Insurance by 31.6% in the 3rd 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. 54.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

International General Insurance Price Performance

IGIC stock opened at $23.08 on Friday. The company has a 50 day moving average price of $24.48 and a 200 day moving average price of $19.92. International General Insurance Holdings Ltd. has a fifty-two week low of $11.51 and a fifty-two week high of $27.00. The stock has a market capitalization of $1.06 billion, a PE ratio of 7.54 and a beta of 0.27.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $138.10 million during the quarter. As a group, equities analysts expect that International General Insurance Holdings Ltd. will post 2.91 earnings per share for the current fiscal year.

International General Insurance Dividend Announcement

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

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.