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

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

Global Indemnity Group Stock Down 2.0 %

GBLI stock opened at $33.30 on Friday. The firm has a market cap of $453.01 million, a price-to-earnings ratio of 13.43 and a beta of 0.43. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $37.00. The company’s fifty day simple moving average is $32.08 and its 200 day simple moving average is $31.49.

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, 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 business had revenue of $108.69 million for the quarter, compared to analyst estimates of $114.00 million. Research analysts expect that Global Indemnity Group will post 2.71 earnings per share for the current year.

Hedge Funds Weigh In On Global Indemnity Group

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Global Indemnity Group during the second quarter valued at about $55,000. Harbor Capital Advisors Inc. increased its position in shares of 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 acquiring an additional 19,830 shares in the last quarter. Boston Partners bought a new stake in shares of Global Indemnity Group during the first quarter worth about $2,488,000. Finally, Cannell Capital LLC bought a new stake in shares of Global Indemnity Group during the fourth quarter worth about $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.