Navellier & Associates Inc. Buys 26,311 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Navellier & Associates Inc. boosted its stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 73.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,157 shares of the company’s stock after acquiring an additional 26,311 shares during the quarter. Navellier & Associates Inc.’s holdings in International General Insurance were worth $1,477,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IGIC. ORG Wealth Partners LLC purchased a new position in shares of International General Insurance during the fourth quarter valued at approximately $60,000. Geneos Wealth Management Inc. purchased a new position in shares of International General Insurance during the fourth quarter valued at approximately $177,000. Kingsview Wealth Management LLC purchased a new position in shares of International General Insurance during the third quarter valued at approximately $265,000. JPMorgan Chase & Co. boosted its position in shares of International General Insurance by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company’s stock valued at $320,000 after buying an additional 3,562 shares during the period. Finally, Tidal Investments LLC purchased a new position in shares of International General Insurance during the third quarter valued at approximately $372,000. 54.24% of the stock is owned by institutional investors.

International General Insurance Stock Performance

Shares of NASDAQ IGIC opened at $25.96 on Friday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.48 and a beta of 0.27. The stock has a 50 day moving average price of $24.74 and a 200 day moving average price of $22.02. International General Insurance Holdings Ltd. has a 52-week low of $11.51 and a 52-week high of $27.66.

Wall Street Analyst Weigh In

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

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.