International General Insurance Holdings Ltd. (NASDAQ:IGIC) Stock Holdings Reduced by Royce & Associates LP

Royce & Associates LP reduced its position in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,064,792 shares of the company’s stock after selling 395,019 shares during the period. Royce & Associates LP owned about 6.67% of International General Insurance worth $58,231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IGIC. Sei Investments Co. increased its holdings in International General Insurance by 112.5% in the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock worth $3,580,000 after buying an additional 135,400 shares during the last quarter. Acadian Asset Management LLC grew its position in International General Insurance by 35.1% in the second quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock worth $3,095,000 after acquiring an additional 57,399 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of International General Insurance by 31.6% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,300 shares of the company’s stock worth $3,597,000 after purchasing an additional 45,455 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of International General Insurance during the 3rd quarter valued at $3,338,000. Finally, Interval Partners LP raised its holdings in shares of International General Insurance by 15.5% during the 2nd quarter. Interval Partners LP now owns 114,650 shares of the company’s stock valued at $1,605,000 after purchasing an additional 15,379 shares in the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

International General Insurance Stock Performance

Shares of IGIC stock opened at $25.03 on Friday. The stock’s 50 day simple moving average is $20.06 and its 200 day simple moving average is $16.94. International General Insurance Holdings Ltd. has a twelve month low of $11.33 and a twelve month high of $25.50. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 8.18 and a beta of 0.21.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The business had revenue of $138.10 million during the quarter.

Analyst Ratings Changes

Separately, Royal Bank of Canada increased their target price on shares of International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

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.