Global Indemnity Group (NASDAQ:GBLI) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report released on Tuesday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

Shares of NASDAQ:GBLI opened at $32.50 on Tuesday. The company has a 50-day simple moving average of $31.13 and a 200-day simple moving average of $30.86. Global Indemnity Group has a one year low of $26.50 and a one year high of $37.00. The stock has a market capitalization of $442.13 million, a price-to-earnings ratio of 13.10 and a beta of 0.44.

Global Indemnity Group (NASDAQ:GBLI) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.19. The business had revenue of $108.69 million during the quarter, compared to analysts’ expectations of $114.00 million. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. As a group, research analysts forecast that Global Indemnity Group will post 2.71 EPS for the current fiscal year.

Global Indemnity Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 21st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $1.40 annualized dividend and a yield of 4.31%. Global Indemnity Group’s payout ratio is currently 56.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its position in shares of Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after purchasing an additional 19,830 shares during the last quarter. Boston Partners purchased a new position in Global Indemnity Group during the first quarter worth about $2,488,000. Cannell Capital LLC purchased a new position in Global Indemnity Group during the fourth quarter worth about $3,562,000. Finally, Innealta Capital LLC purchased a new position in Global Indemnity Group during the second quarter worth about $55,000. 37.40% of the stock is currently owned by institutional investors and hedge funds.

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.