Russell Investments Group Ltd. Sells 79,063 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Russell Investments Group Ltd. cut its holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,835 shares of the company’s stock after selling 79,063 shares during the period. Russell Investments Group Ltd.’s holdings in International General Insurance were worth $5,253,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IGIC. Quadrature Capital Ltd bought a new stake in shares of International General Insurance during the 3rd quarter valued at $1,063,000. Acadian Asset Management LLC raised its position in shares of International General Insurance by 492.4% during the 3rd quarter. Acadian Asset Management LLC now owns 67,102 shares of the company’s stock valued at $756,000 after purchasing an additional 55,775 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of International General Insurance by 30.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 86,000 shares of the company’s stock valued at $1,108,000 after purchasing an additional 20,000 shares during the period. Ballast Asset Management LP bought a new stake in shares of International General Insurance during the 3rd quarter valued at $2,000,000. Finally, Jump Financial LLC bought a new stake in shares of International General Insurance during the 3rd quarter valued at $142,000. 54.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of International General Insurance in a research report on Thursday, March 14th.

International General Insurance Price Performance

Shares of IGIC stock opened at $14.54 on Friday. The company has a market capitalization of $669.86 million, a price-to-earnings ratio of 5.70 and a beta of 0.20. The company’s fifty day moving average price is $13.25 and its 200-day moving average price is $12.70. International General Insurance Holdings Ltd. has a one year low of $8.05 and a one year high of $14.60.

International General Insurance (NASDAQ:IGIC) last posted its earnings results on Tuesday, March 12th. The company reported $0.65 earnings per share for the quarter. The company had revenue of $122.80 million during the quarter. International General Insurance had a net margin of 25.06% and a return on equity of 28.04%.

International General Insurance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 14.03%. This is a boost from International General Insurance’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, March 28th. International General Insurance’s dividend payout ratio (DPR) is presently 1.57%.

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.