International General Insurance Holdings Ltd. (NASDAQ:IGIC) Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. cut its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 12.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 540,150 shares of the company’s stock after selling 73,450 shares during the period. Heartland Advisors Inc.’s holdings in International General Insurance were worth $12,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Diamond Hill Capital Management Inc. grew its holdings in International General Insurance by 8.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 190,563 shares of the company’s stock valued at $4,528,000 after purchasing an additional 14,890 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in International General Insurance by 0.3% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company’s stock valued at $4,510,000 after acquiring an additional 525 shares during the period. Sowell Financial Services LLC purchased a new stake in International General Insurance in the 4th quarter worth $2,233,000. Navellier & Associates Inc. lifted its holdings in International General Insurance by 73.4% during the fourth 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 in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of International General Insurance by 3.2% in the third quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock valued at $530,000 after purchasing an additional 859 shares during the period. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Analysts Set New Price Targets

IGIC has been the subject of several research reports. Oppenheimer boosted their price objective 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 increased their target price on shares of International General Insurance from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th.

International General Insurance Stock Performance

Shares of International General Insurance stock opened at $26.53 on Friday. International General Insurance Holdings Ltd. has a fifty-two week low of $12.83 and a fifty-two week high of $27.76. The stock has a 50 day moving average of $25.58 and a 200 day moving average of $23.42. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.67 and a beta of 0.26.

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

International General Insurance Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a dividend yield of 0.4%. International General Insurance’s dividend payout ratio (DPR) is 3.34%.

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.