Virtu Financial LLC Takes Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Virtu Financial LLC purchased a new position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) during the fourth quarter, Holdings Channel reports. The firm purchased 17,985 shares of the company’s stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IGIC. Sowell Financial Services LLC acquired a new stake in International General Insurance during the fourth quarter worth about $2,233,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of International General Insurance by 8.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company’s stock worth $4,528,000 after acquiring an additional 14,890 shares during the period. Geode Capital Management LLC boosted its position in shares of International General Insurance by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock worth $530,000 after acquiring an additional 859 shares in the last quarter. Navellier & Associates Inc. increased its stake in International General Insurance by 73.4% in the fourth quarter. Navellier & Associates Inc. now owns 62,157 shares of the company’s stock valued at $1,477,000 after acquiring an additional 26,311 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in International General Insurance during the fourth quarter valued at approximately $95,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

International General Insurance Price Performance

IGIC stock opened at $26.01 on Thursday. International General Insurance Holdings Ltd. has a 1 year low of $12.83 and a 1 year high of $27.76. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 8.50 and a beta of 0.26. The company has a 50 day simple moving average of $25.54 and a 200 day simple moving average of $23.40.

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

International General Insurance Announces Dividend

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

Analyst Ratings Changes

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

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.