Sowell Financial Services LLC Acquires New Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Sowell Financial Services LLC bought a new position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) in the 4th quarter, HoldingsChannel reports. The fund bought 93,997 shares of the company’s stock, valued at approximately $2,233,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IGIC. ORG Wealth Partners LLC bought a new position in International General Insurance in the 4th quarter worth about $60,000. PNC Financial Services Group Inc. bought a new position in International General Insurance in the 4th quarter worth about $95,000. Geneos Wealth Management Inc. acquired a new stake in shares of International General Insurance in the 4th quarter worth approximately $177,000. Kingsview Wealth Management LLC acquired a new stake in shares of International General Insurance in the 3rd quarter worth approximately $265,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of International General Insurance by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company’s stock worth $320,000 after acquiring an additional 3,562 shares during the period. Institutional investors own 54.24% of the company’s stock.

Wall Street Analysts Forecast Growth

IGIC has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of International General Insurance from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Oppenheimer upped their price target on shares of International General Insurance from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th.

International General Insurance Stock Performance

Shares of NASDAQ:IGIC opened at $24.78 on Monday. The company has a market cap of $1.14 billion, a PE ratio of 8.10 and a beta of 0.26. International General Insurance Holdings Ltd. has a 52 week low of $12.36 and a 52 week high of $27.76. The firm has a 50 day simple moving average of $25.04 and a 200 day simple moving average of $22.72.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $135.20 million during the quarter, compared to the consensus estimate of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. On average, equities analysts predict that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current year.

About International General Insurance

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.