StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Free Report) in a report published on Friday. The brokerage issued a buy rating on the insurance provider’s stock.
Global Indemnity Group Stock Performance
Global Indemnity Group stock opened at $31.24 on Friday. Global Indemnity Group has a 52 week low of $26.50 and a 52 week high of $37.00. The stock has a market capitalization of $424.99 million, a P/E ratio of 12.60 and a beta of 0.44. The stock has a fifty day moving average of $30.96 and a 200-day moving average of $30.61.
Global Indemnity Group (NASDAQ:GBLI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. Global Indemnity Group had a return on equity of 5.40% and a net margin of 6.98%. The company had revenue of $112.29 million during the quarter, compared to analysts’ expectations of $90.00 million. On average, research analysts forecast that Global Indemnity Group will post 2.55 earnings per share for the current year.
Global Indemnity Group Announces Dividend
Hedge Funds Weigh In On Global Indemnity Group
A number of institutional investors have recently modified their holdings of GBLI. Cannell Capital LLC acquired a new position in shares of Global Indemnity Group during the 4th quarter worth $3,562,000. Boston Partners bought a new stake in Global Indemnity Group during the 1st quarter worth $2,488,000. Harbor Capital Advisors Inc. grew its position in Global Indemnity Group by 223.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after acquiring an additional 19,830 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in Global Indemnity Group during the 2nd quarter worth $55,000. Institutional investors and hedge funds own 37.40% of the company’s stock.
About Global Indemnity Group
Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products worldwide. It operates in two segments, Penn-America and Non-Core Operations. The company distributes property and general liability products for small commercial businesses through a network of wholesale general agents; and property and general liability niche products through program administrators with specific binding authority.
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