Orion Portfolio Solutions LLC Sells 800 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Orion Portfolio Solutions LLC lowered its stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 7.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,069 shares of the company’s stock after selling 800 shares during the period. Orion Portfolio Solutions LLC’s holdings in International General Insurance were worth $191,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Diamond Hill Capital Management Inc. acquired a new stake in International General Insurance during the third quarter worth about $3,338,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of International General Insurance during the 2nd quarter worth approximately $2,014,000. Sei Investments Co. increased its stake in International General Insurance by 112.5% in the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock valued at $3,580,000 after acquiring an additional 135,400 shares during the last quarter. Marshall Wace LLP increased its stake in International General Insurance by 276.8% in the second quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock valued at $1,292,000 after acquiring an additional 67,809 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in International General Insurance by 35.1% during the second quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock valued at $3,095,000 after purchasing an additional 57,399 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

International General Insurance Stock Down 0.5 %

Shares of IGIC stock opened at $23.89 on Friday. International General Insurance Holdings Ltd. has a twelve month low of $11.51 and a twelve month high of $27.00. The stock’s fifty day simple moving average is $23.42 and its 200 day simple moving average is $18.92. The firm has a market capitalization of $1.10 billion, a P/E ratio of 7.81 and a beta of 0.25.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.11. The company had revenue of $138.10 million for the quarter. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. As a group, equities research analysts expect that International General Insurance Holdings Ltd. will post 2.91 EPS for the current fiscal year.

International General Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.42%. International General Insurance’s dividend payout ratio (DPR) is presently 3.27%.

Analysts Set New Price Targets

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

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.