Renaissance Technologies LLC Sells 26,443 Shares of International General Insurance Holdings Ltd. $IGIC

Renaissance Technologies LLC trimmed its stake in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 18.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,257 shares of the company’s stock after selling 26,443 shares during the period. Renaissance Technologies LLC owned 0.27% of International General Insurance worth $2,841,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of International General Insurance during the 4th quarter worth about $291,000. Millennium Management LLC raised its stake in shares of International General Insurance by 138.7% in the fourth quarter. Millennium Management LLC now owns 21,938 shares of the company’s stock valued at $550,000 after purchasing an additional 12,746 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of International General Insurance in the 4th quarter valued at $810,000. Trexquant Investment LP raised its position in International General Insurance by 25.0% in the fourth quarter. Trexquant Investment LP now owns 38,532 shares of the company’s stock worth $967,000 after purchasing an additional 7,713 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of International General Insurance by 11.3% during the 4th quarter. Osaic Holdings Inc. now owns 7,135 shares of the company’s stock worth $179,000 after buying an additional 722 shares during the period. Institutional investors own 54.24% of the company’s stock.

International General Insurance Price Performance

NASDAQ IGIC opened at $27.06 on Monday. The firm has a market cap of $1.15 billion, a PE ratio of 10.87 and a beta of 0.11. International General Insurance Holdings Ltd. has a one year low of $20.82 and a one year high of $29.58. The stock’s 50 day simple moving average is $26.75 and its 200 day simple moving average is $25.63.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.17). The business had revenue of $143.50 million for the quarter, compared to analyst estimates of $114.90 million. International General Insurance had a net margin of 20.68% and a return on equity of 17.03%. As a group, equities analysts expect that International General Insurance Holdings Ltd. will post 2.88 earnings per share for the current year.

International General Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a $0.075 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.1%. International General Insurance’s dividend payout ratio (DPR) is 12.05%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IGIC. Royal Bank Of Canada increased their price objective on International General Insurance from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Zacks Research downgraded shares of International General Insurance from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International General Insurance in a report on Friday, July 31st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, International General Insurance currently has an average rating of “Hold” and a consensus target price 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.