Diamond Hill Capital Management Inc. Has $4.53 Million Position in International General Insurance Holdings Ltd. (NASDAQ:IGIC)

Diamond Hill Capital Management Inc. raised its holdings in International General Insurance Holdings Ltd. (NASDAQ:IGIC) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,563 shares of the company’s stock after buying an additional 14,890 shares during the period. Diamond Hill Capital Management Inc. owned about 0.41% of International General Insurance worth $4,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions 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 worth $4,510,000 after buying an additional 525 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of International General Insurance by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 27,877 shares of the company’s stock worth $530,000 after acquiring an additional 859 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of International General Insurance in the fourth quarter valued at about $60,000. JPMorgan Chase & Co. lifted its position in shares of International General Insurance by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 16,857 shares of the company’s stock valued at $320,000 after purchasing an additional 3,562 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in International General Insurance during the fourth quarter worth about $95,000. 54.24% of the stock is owned by institutional investors.

International General Insurance Stock Performance

IGIC opened at $25.68 on Friday. International General Insurance Holdings Ltd. has a fifty-two week low of $12.76 and a fifty-two week high of $27.76. The firm has a 50-day moving average of $25.17 and a 200 day moving average of $22.92. The firm has a market cap of $1.18 billion, a P/E ratio of 8.39 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC) last released its earnings results on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $136.20 million. Equities research analysts predict that International General Insurance Holdings Ltd. will post 3.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IGIC shares. Oppenheimer increased their price objective on shares of International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada increased their price target on International General Insurance from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th.

About International General Insurance

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.