Renaissance Technologies LLC Sells 26,600 Shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Renaissance Technologies LLC decreased its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 14.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,200 shares of the company’s stock after selling 26,600 shares during the period. Renaissance Technologies LLC owned about 0.36% of International General Insurance worth $2,285,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IGIC. Simplicity Wealth LLC acquired a new position in shares of International General Insurance in the 2nd quarter worth approximately $152,000. LSV Asset Management acquired a new position in International General Insurance during the second quarter worth $179,000. Virtu Financial LLC bought a new position in shares of International General Insurance during the first quarter valued at $209,000. Victory Capital Management Inc. acquired a new stake in shares of International General Insurance in the 2nd quarter valued at $229,000. Finally, PEAK6 Investments LLC grew its holdings in shares of International General Insurance by 33.8% in the 1st quarter. PEAK6 Investments LLC now owns 39,927 shares of the company’s stock worth $541,000 after purchasing an additional 10,083 shares during the last quarter. 54.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Royal Bank of Canada lifted their price target on shares of International General Insurance from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, August 8th.

International General Insurance Price Performance

Shares of IGIC opened at $19.12 on Wednesday. The company has a market capitalization of $878.56 million, a P/E ratio of 7.08 and a beta of 0.23. International General Insurance Holdings Ltd. has a one year low of $10.68 and a one year high of $19.60. The business’s 50 day simple moving average is $17.51 and its 200-day simple moving average is $15.30.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. International General Insurance had a return on equity of 25.74% and a net margin of 23.40%. The company had revenue of $135.60 million for the quarter.

International General Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, September 2nd were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, August 30th. International General Insurance’s payout ratio is presently 3.70%.

International General Insurance Profile

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.