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

Sageworth Trust Co of South Dakota bought a new stake in shares of International General Insurance Holdings Ltd. (NASDAQ:IGIC) during the 3rd quarter, Holdings Channel reports. The firm bought 24,510 shares of the company’s stock, valued at approximately $569,000.

Other institutional investors have also recently made changes to their positions in the company. CWA Asset Management Group LLC grew its stake 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 acquiring an additional 8,343 shares during the period. Copeland Capital Management LLC purchased a new stake in International General Insurance in the third quarter worth approximately $64,000. Exchange Traded Concepts LLC grew its position in International General Insurance by 4.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 11,514 shares of the company’s stock worth $267,000 after purchasing an additional 517 shares during the period. Osaic Holdings Inc. grew its position in International General Insurance by 29.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,752 shares of the company’s stock worth $162,000 after purchasing an additional 1,524 shares during the period. Finally, State of Wyoming raised its stake in International General Insurance by 179.2% during the 2nd quarter. State of Wyoming now owns 6,665 shares of the company’s stock valued at $160,000 after buying an additional 4,278 shares during the last quarter. Hedge funds and other institutional investors own 54.24% of the company’s stock.

International General Insurance Price Performance

Shares of IGIC stock opened at $24.92 on Friday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 9.03 and a beta of 0.16. International General Insurance Holdings Ltd. has a 1 year low of $20.82 and a 1 year high of $27.76. The firm has a fifty day moving average price of $24.51 and a 200-day moving average price of $23.82.

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

International General Insurance Announces Dividend

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

International General Insurance declared that its board has authorized a share buyback program on Wednesday, November 5th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

IGIC has been the topic of several research analyst reports. Royal Bank Of Canada initiated coverage on International General Insurance in a report on Tuesday, December 16th. They set an “outperform” rating and a $28.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of International General Insurance in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, International General Insurance has an average rating of “Buy” and an average price target of $30.00.

International General Insurance Profile

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.