Hingham Institution for Savings grew its position in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC – Free Report) by 45.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,400 shares of the company’s stock after buying an additional 25,000 shares during the quarter. International General Insurance makes up about 1.6% of Hingham Institution for Savings’ investment portfolio, making the stock its 9th largest holding. Hingham Institution for Savings’ holdings in International General Insurance were worth $2,104,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in IGIC. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in International General Insurance in the second quarter valued at approximately $13,773,000. Corsair Capital Management L.P. acquired a new stake in shares of International General Insurance in the 1st quarter valued at $352,000. XTX Topco Ltd bought a new stake in International General Insurance in the fourth quarter worth $291,000. Millennium Management LLC boosted its holdings in International General Insurance by 138.7% in the fourth quarter. Millennium Management LLC now owns 21,938 shares of the company’s stock worth $550,000 after purchasing an additional 12,746 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in International General Insurance during the fourth quarter worth $810,000. Institutional investors own 54.24% of the company’s stock.
International General Insurance Stock Performance
International General Insurance stock opened at $27.04 on Friday. International General Insurance Holdings Ltd. has a 52 week low of $20.82 and a 52 week high of $29.58. The firm has a market capitalization of $1.15 billion, a PE ratio of 10.86 and a beta of 0.09. The business’s 50-day simple moving average is $27.32 and its 200-day simple moving average is $25.87.
International General Insurance Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 18th. International General Insurance’s dividend payout ratio is currently 12.05%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Royal Bank Of Canada raised their target price on International General Insurance from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Zacks Research downgraded International General Insurance from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded International General Insurance from a “buy (b-)” rating to a “buy (b+)” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.00.
Check Out Our Latest Stock Report on IGIC
About International General Insurance
International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.
Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.
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