Catalyst Capital Advisors LLC Acquires 7,250 Shares of International General Insurance Holdings Ltd. $IGIC

Catalyst Capital Advisors LLC grew its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 129.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,850 shares of the company’s stock after buying an additional 7,250 shares during the period. Catalyst Capital Advisors LLC’s holdings in International General Insurance were worth $309,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of International General Insurance by 850.6% during the 1st quarter. US Bancorp DE now owns 4,753 shares of the company’s stock worth $125,000 after buying an additional 4,253 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of International General Insurance by 55.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,208 shares of the company’s stock worth $163,000 after buying an additional 2,208 shares in the last quarter. Trexquant Investment LP bought a new position in shares of International General Insurance during the 1st quarter worth approximately $252,000. Abacus Planning Group Inc. raised its position in shares of International General Insurance by 49.4% during the second quarter. Abacus Planning Group Inc. now owns 13,091 shares of the company’s stock worth $314,000 after purchasing an additional 4,327 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of International General Insurance by 2.9% during the first quarter. Mackenzie Financial Corp now owns 35,945 shares of the company’s stock worth $946,000 after purchasing an additional 1,005 shares during the period. 54.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of International General Insurance in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $31.50.

International General Insurance Stock Down 0.4%

Shares of NASDAQ:IGIC opened at $22.25 on Friday. International General Insurance Holdings Ltd. has a twelve month low of $20.52 and a twelve month high of $27.76. The stock’s 50 day moving average is $23.60 and its 200-day moving average is $23.68. The firm has a market capitalization of $993.02 million, a price-to-earnings ratio of 8.06 and a beta of 0.25.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The company had revenue of $132.90 million during the quarter, compared to analysts’ expectations of $140.40 million. International General Insurance had a net margin of 23.52% and a return on equity of 17.40%. Equities research analysts anticipate that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.

International General Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Monday, September 1st were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 29th. International General Insurance’s dividend payout ratio is presently 7.25%.

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.