Shay Capital LLC Boosts Stock Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Shay Capital LLC boosted its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 226,759 shares of the company’s stock after purchasing an additional 26,210 shares during the quarter. International General Insurance makes up approximately 0.8% of Shay Capital LLC’s investment portfolio, making the stock its 26th largest holding. Shay Capital LLC owned about 0.49% of International General Insurance worth $5,388,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Diamond Hill Capital Management Inc. raised its stake in shares of International General Insurance by 8.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company’s stock worth $4,528,000 after acquiring an additional 14,890 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in International General Insurance by 0.3% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company’s stock worth $4,510,000 after purchasing an additional 525 shares during the last quarter. Renaissance Technologies LLC grew its holdings in International General Insurance by 22.2% in the fourth quarter. Renaissance Technologies LLC now owns 115,500 shares of the company’s stock worth $2,744,000 after purchasing an additional 21,000 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of International General Insurance during the fourth quarter worth $2,233,000. Finally, Navellier & Associates Inc. lifted its holdings in shares of International General Insurance by 73.4% during the 4th quarter. Navellier & Associates Inc. now owns 62,157 shares of the company’s stock valued at $1,477,000 after purchasing an additional 26,311 shares during the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Oppenheimer boosted their target price on International General Insurance from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada raised their price target on International General Insurance from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th.

International General Insurance Trading Down 0.2%

NASDAQ:IGIC opened at $23.90 on Friday. International General Insurance Holdings Ltd. has a twelve month low of $13.81 and a twelve month high of $27.76. The company has a market cap of $1.08 billion, a PE ratio of 7.81 and a beta of 0.24. The company’s 50 day moving average is $24.73 and its two-hundred day moving average is $24.75.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The company had revenue of $129.00 million for the quarter, compared to analysts’ expectations of $135.50 million. As a group, analysts expect that International General Insurance Holdings Ltd. will post 3.18 EPS for the current fiscal year.

International General Insurance Announces Dividend

The company also recently disclosed a — dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th were issued a $0.85 dividend. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, April 4th. International General Insurance’s dividend payout ratio is presently 3.68%.

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.