Geneos Wealth Management Inc. Invests $177,000 in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Geneos Wealth Management Inc. purchased a new stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,450 shares of the company’s stock, valued at approximately $177,000.

Several other institutional investors and hedge funds have also bought and sold shares of IGIC. Mackenzie Financial Corp bought a new stake in shares of International General Insurance during the 2nd quarter worth approximately $411,000. Marshall Wace LLP raised its position in International General Insurance by 276.8% during the second quarter. Marshall Wace LLP now owns 92,308 shares of the company’s stock valued at $1,292,000 after purchasing an additional 67,809 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of International General Insurance by 112.5% in the 2nd quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock valued at $3,580,000 after purchasing an additional 135,400 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of International General Insurance by 31.6% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,300 shares of the company’s stock valued at $3,597,000 after purchasing an additional 45,455 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of International General Insurance by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock worth $530,000 after buying an additional 859 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

International General Insurance Stock Down 0.1 %

NASDAQ IGIC opened at $25.44 on Friday. International General Insurance Holdings Ltd. has a twelve month low of $11.51 and a twelve month high of $27.00. The business’s fifty day moving average is $24.55 and its 200 day moving average is $20.87. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 8.31 and a beta of 0.27.

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%. On average, research analysts anticipate 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 was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, December 3rd. International General Insurance’s payout ratio is currently 3.27%.

Analysts Set New Price Targets

A number of research firms have issued reports on IGIC. 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.