Sageworth Trust Co of South Dakota Takes $569,000 Position in International General Insurance Holdings Ltd. $IGIC

Sageworth Trust Co of South Dakota purchased a new stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 24,510 shares of the company’s stock, valued at approximately $569,000. Sageworth Trust Co of South Dakota owned approximately 0.05% of International General Insurance at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of IGIC. Shay Capital LLC lifted its holdings in shares of International General Insurance by 5.4% in the second quarter. Shay Capital LLC now owns 210,250 shares of the company’s stock worth $5,050,000 after buying an additional 10,823 shares in the last quarter. CWA Asset Management Group LLC raised its position in shares of International General Insurance by 11.3% in the third quarter. CWA Asset Management Group LLC now owns 82,287 shares of the company’s stock worth $1,909,000 after buying an additional 8,343 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of International General Insurance by 220.3% in the second quarter. Raymond James Financial Inc. now owns 51,586 shares of the company’s stock worth $1,239,000 after buying an additional 35,480 shares in the last quarter. Franklin Resources Inc. boosted its stake in International General Insurance by 5.8% during the second quarter. Franklin Resources Inc. now owns 38,030 shares of the company’s stock valued at $913,000 after buying an additional 2,085 shares during the period. Finally, Beacon Pointe Advisors LLC grew its position in International General Insurance by 18.8% during the second quarter. Beacon Pointe Advisors LLC now owns 29,530 shares of the company’s stock worth $709,000 after buying an additional 4,682 shares in the last quarter. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

International General Insurance Stock Performance

Shares of IGIC stock opened at $24.92 on Friday. The company has a market capitalization of $1.11 billion, a P/E ratio of 9.03 and a beta of 0.16. International General Insurance Holdings Ltd. has a fifty-two week low of $20.82 and a fifty-two week high of $27.76. The stock has a 50 day moving average price of $24.51 and a two-hundred day moving average price of $23.82.

International General Insurance (NASDAQ:IGIC) last posted its earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). International General Insurance had a return on equity of 18.36% and a net margin of 23.76%.The firm had revenue of $128.60 million for the quarter, compared to analysts’ expectations of $135.40 million. As a group, equities analysts predict that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current year.

International General Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, December 17th. International General Insurance’s payout ratio is currently 7.25%.

International General Insurance declared that its board has initiated a stock repurchase program on Wednesday, November 5th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International General Insurance in a report on Thursday, January 22nd. Royal Bank Of Canada began coverage on shares of International General Insurance in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $28.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $30.00.

About International General Insurance

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.