Ballast Asset Management LP Has $6.74 Million Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Ballast Asset Management LP reduced its holdings in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 283,850 shares of the company’s stock after selling 9,790 shares during the period. International General Insurance comprises 3.4% of Ballast Asset Management LP’s portfolio, making the stock its 5th largest holding. Ballast Asset Management LP owned 0.62% of International General Insurance worth $6,744,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IGIC. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in International General Insurance by 0.3% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,825 shares of the company’s stock valued at $4,510,000 after purchasing an additional 525 shares during the period. Geode Capital Management LLC raised its stake 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 worth $530,000 after buying an additional 859 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of International General Insurance during the 4th quarter valued at about $60,000. JPMorgan Chase & Co. grew its stake in shares of International General Insurance by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company’s stock valued at $320,000 after acquiring an additional 3,562 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in International General Insurance in the 4th quarter worth approximately $87,000. 54.24% of the stock is currently owned by institutional investors.

International General Insurance Trading Up 1.7 %

Shares of IGIC opened at $26.31 on Tuesday. The business’s 50 day moving average is $25.66 and its 200 day moving average is $23.62. International General Insurance Holdings Ltd. has a 12-month low of $12.83 and a 12-month high of $27.76. The company has a market capitalization of $1.21 billion, a PE ratio of 8.60 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The firm had revenue of $135.20 million for the quarter, compared to analysts’ expectations of $136.20 million. Equities research 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 disclosed a — dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be issued a dividend of $0.85 per share. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, April 4th. International General Insurance’s dividend payout ratio (DPR) is presently 3.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IGIC shares. Oppenheimer lifted their price target on shares of International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Royal Bank of Canada lifted 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 note on Thursday, February 27th.

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.