526,280 Shares in International General Insurance Holdings Ltd. $IGIC Acquired by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 526,280 shares of the company’s stock, valued at approximately $13,773,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Diamond Hill Capital Management Inc. raised its position in shares of International General Insurance by 35.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 370,316 shares of the company’s stock valued at $9,291,000 after acquiring an additional 96,536 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of International General Insurance in the 4th quarter valued at $291,000. Aquatic Capital Management LLC boosted its position in shares of International General Insurance by 31.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 12,255 shares of the company’s stock worth $284,000 after purchasing an additional 2,959 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of International General Insurance in the 3rd quarter worth $237,000. Finally, IHT Wealth Management LLC acquired a new stake in shares of International General Insurance during the second quarter worth $233,000. 54.24% of the stock is owned by institutional investors.

International General Insurance Trading Down 3.6%

Shares of International General Insurance stock opened at $26.24 on Tuesday. The stock’s fifty day simple moving average is $26.96 and its 200 day simple moving average is $25.73. The company has a market capitalization of $1.12 billion, a PE ratio of 10.54 and a beta of 0.11. International General Insurance Holdings Ltd. has a 12 month low of $20.82 and a 12 month high of $29.58.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.17). International General Insurance had a return on equity of 17.03% and a net margin of 20.68%.The business had revenue of $143.50 million during the quarter, compared to the consensus estimate of $114.90 million. Analysts predict that International General Insurance Holdings Ltd. will post 2.81 EPS for the current fiscal year.

International General Insurance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, August 18th. International General Insurance’s dividend payout ratio (DPR) is 12.05%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank Of Canada increased their target price on International General Insurance from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Weiss Ratings upgraded International General Insurance from a “buy (b-)” rating to a “buy (b+)” rating in a research report on Thursday. Finally, Zacks Research cut International General Insurance from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, International General Insurance currently has a consensus rating of “Hold” and a consensus price target of $30.00.

International General Insurance Profile

International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.