Hingham Institution for Savings Increases Position in International General Insurance Holdings Ltd. $IGIC

Hingham Institution for Savings boosted its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 45.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,400 shares of the company’s stock after purchasing an additional 25,000 shares during the period. International General Insurance makes up about 1.6% of Hingham Institution for Savings’ portfolio, making the stock its 9th largest holding. Hingham Institution for Savings owned 0.19% of International General Insurance worth $2,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC bought a new position in International General Insurance during the fourth quarter valued at about $56,000. State of Wyoming lifted its holdings in International General Insurance by 179.2% in the 2nd quarter. State of Wyoming now owns 6,665 shares of the company’s stock valued at $160,000 after acquiring an additional 4,278 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of International General Insurance by 29.2% during the 2nd quarter. Osaic Holdings Inc. now owns 6,752 shares of the company’s stock valued at $162,000 after purchasing an additional 1,524 shares in the last quarter. Royal Bank of Canada boosted its position in shares of International General Insurance by 16.5% during the 4th quarter. Royal Bank of Canada now owns 6,559 shares of the company’s stock valued at $165,000 after purchasing an additional 929 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of International General Insurance by 61.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,824 shares of the company’s stock worth $188,000 after purchasing an additional 2,963 shares during the last quarter. 54.24% of the stock is owned by institutional investors.

International General Insurance Trading Up 1.0%

NASDAQ:IGIC opened at $27.04 on Friday. The business’s fifty day moving average price is $27.32 and its 200 day moving average price is $25.87. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.86 and a beta of 0.09. International General Insurance Holdings Ltd. has a 1-year low of $20.82 and a 1-year high of $29.58.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.17). The business had revenue of $143.50 million for the quarter, compared to analyst estimates of $114.90 million. International General Insurance had a return on equity of 17.03% and a net margin of 20.68%. Equities analysts forecast that International General Insurance Holdings Ltd. will post 2.61 earnings per share for the current year.

International General Insurance Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on IGIC shares. Zacks Research downgraded shares of International General Insurance from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Royal Bank Of Canada raised their target price on shares of International General Insurance from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of International General Insurance from a “buy (b-)” rating to a “buy (b+)” rating in a research report on Thursday, August 13th. Two equities research 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 an average 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.