PNC Financial Services Group Inc. Buys 2,208 Shares of International General Insurance Holdings Ltd. $IGIC

PNC Financial Services Group Inc. raised its stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 55.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,208 shares of the company’s stock after buying an additional 2,208 shares during the period. PNC Financial Services Group Inc.’s holdings in International General Insurance were worth $163,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IGIC. CWA Asset Management Group LLC bought a new stake in International General Insurance in the first quarter worth $1,112,000. Diamond Hill Capital Management Inc. increased its holdings in shares of International General Insurance by 16.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 221,271 shares of the company’s stock worth $5,822,000 after buying an additional 30,708 shares during the period. Jane Street Group LLC bought a new stake in shares of International General Insurance in the 4th quarter valued at about $382,000. Northern Trust Corp purchased a new stake in International General Insurance during the 4th quarter valued at about $409,000. Finally, Royce & Associates LP boosted its holdings in International General Insurance by 10.1% during the 1st quarter. Royce & Associates LP now owns 2,636,063 shares of the company’s stock valued at $69,355,000 after acquiring an additional 242,104 shares during the period. Institutional investors own 54.24% of the company’s stock.

International General Insurance Stock Performance

Shares of International General Insurance stock opened at $24.01 on Tuesday. International General Insurance Holdings Ltd. has a 52-week low of $16.25 and a 52-week high of $27.76. The company’s 50 day moving average price is $23.64 and its 200-day moving average price is $24.37. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 8.70 and a beta of 0.27.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). International General Insurance had a return on equity of 17.40% and a net margin of 23.52%. The firm had revenue of $132.90 million during the quarter, compared to the consensus estimate of $140.40 million. As a group, equities research analysts forecast that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.

International General Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Monday, September 1st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 29th. International General Insurance’s payout ratio is currently 7.25%.

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.