StockNews.com Begins Coverage on Global Indemnity Group (NASDAQ:GBLI)

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued to investors on Wednesday morning. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

Shares of Global Indemnity Group stock opened at $32.13 on Wednesday. The firm has a fifty day moving average of $31.26 and a two-hundred day moving average of $31.01. The stock has a market capitalization of $436.97 million, a price-to-earnings ratio of 12.96 and a beta of 0.43. Global Indemnity Group has a 52 week low of $26.50 and a 52 week high of $37.00.

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

Hedge Funds Weigh In On Global Indemnity Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Global Indemnity Group in the 2nd quarter valued at $55,000. Harbor Capital Advisors Inc. grew its holdings in shares of Global Indemnity Group by 223.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after buying an additional 19,830 shares during the period. Boston Partners acquired a new position in shares of Global Indemnity Group in the 1st quarter valued at $2,488,000. Finally, Cannell Capital LLC acquired a new position in shares of Global Indemnity Group in the 4th quarter valued at $3,562,000. 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.