Acadian Asset Management LLC grew its holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC – Free Report) by 52.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,327 shares of the company’s stock after acquiring an additional 3,910 shares during the period. Acadian Asset Management LLC’s holdings in International General Insurance were worth $101,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Prelude Capital Management LLC raised its position in International General Insurance by 24.8% in the first quarter. Prelude Capital Management LLC now owns 16,244 shares of the company’s stock valued at $135,000 after purchasing an additional 3,223 shares during the period. Envestnet Asset Management Inc. lifted its position in International General Insurance by 26.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 16,228 shares of the company’s stock worth $135,000 after acquiring an additional 3,386 shares in the last quarter. UBS Group AG purchased a new position in International General Insurance in the 4th quarter worth approximately $28,000. Tucker Asset Management LLC acquired a new stake in International General Insurance in the first quarter valued at approximately $43,000. Finally, Schonfeld Strategic Advisors LLC grew its position in International General Insurance by 12.2% in the first quarter. Schonfeld Strategic Advisors LLC now owns 48,900 shares of the company’s stock valued at $405,000 after acquiring an additional 5,300 shares in the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada boosted their target price on shares of International General Insurance from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th.
International General Insurance Price Performance
Shares of International General Insurance stock opened at $11.64 on Tuesday. International General Insurance Holdings Ltd. has a 1-year low of $7.59 and a 1-year high of $12.43. The company has a market capitalization of $547.48 million, a PE ratio of 4.93 and a beta of 0.14. The business has a 50-day moving average of $11.21 and a 200-day moving average of $9.99.
International General Insurance Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. International General Insurance’s dividend payout ratio (DPR) is presently 1.69%.
International General Insurance Profile
International General Insurance Holdings Ltd. provides specialty insurance and reinsurance solutions worldwide. It operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. The company underwrites a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, marine, contingency, treaty, and casualty reinsurance.
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