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

Equities research analysts at StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report released on Monday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

Global Indemnity Group stock opened at $34.00 on Monday. The company has a market cap of $462.54 million, a price-to-earnings ratio of 13.71 and a beta of 0.43. The firm has a 50-day moving average of $32.39 and a 200-day moving average of $31.68. Global Indemnity Group has a one year low of $26.50 and a one year high of $36.98.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.19. Global Indemnity Group had a return on equity of 5.79% and a net margin of 7.66%. The firm had revenue of $108.69 million during the quarter, compared to the consensus estimate of $114.00 million. As a group, sell-side analysts expect that Global Indemnity Group will post 2.71 earnings per share for the current year.

Institutional Trading of Global Indemnity Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Global Indemnity Group in the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. boosted its stake in 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 purchasing an additional 19,830 shares during the period. Finally, Boston Partners acquired a new position in Global Indemnity Group in the 1st quarter valued at $2,488,000. Institutional investors 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.