Global Indemnity Group (NASDAQ:GBLI) Now Covered by Analysts at StockNews.com

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

Global Indemnity Group Trading Down 0.3 %

Global Indemnity Group stock traded down $0.10 during midday trading on Thursday, reaching $34.50. 1,213 shares of the stock traded hands, compared to its average volume of 4,124. The firm has a market cap of $469.20 million, a PE ratio of 13.62 and a beta of 0.43. The company has a 50-day simple moving average of $33.21 and a two-hundred day simple moving average of $31.97. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last released its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $114.00 million. Equities research analysts anticipate that Global Indemnity Group will post 2.71 earnings per share for the current year.

Global Indemnity Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Monday, September 30th. Global Indemnity Group’s dividend payout ratio is currently 55.12%.

Hedge Funds Weigh In On Global Indemnity Group

A number of institutional investors and hedge funds have recently made changes to their positions in GBLI. Innealta Capital LLC acquired a new position in Global Indemnity Group during the 2nd quarter worth approximately $55,000. Harbor Capital Advisors Inc. lifted its stake in Global Indemnity Group by 223.7% during the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after purchasing an additional 19,830 shares during the last quarter. Finally, Boston Partners acquired a new stake in Global Indemnity Group during the first quarter worth approximately $2,488,000. 37.40% of the stock is owned by institutional investors and hedge funds.

Global Indemnity Group Company Profile

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.