Global Indemnity Group (NASDAQ:GBLI) Sets New 1-Year High – What’s Next?

Global Indemnity Group, LLC (NASDAQ:GBLI)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.00 and last traded at $37.00, with a volume of 4138 shares traded. The stock had previously closed at $34.50.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Global Indemnity Group in a report on Thursday. They set a “buy” rating on the stock.

Global Indemnity Group Trading Down 0.9 %

The stock has a market cap of $466.46 million, a P/E ratio of 13.58 and a beta of 0.43. The firm’s fifty day moving average is $33.25 and its 200 day moving average is $31.98.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, topping 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 business had revenue of $108.69 million for the quarter, compared to analyst estimates of $114.00 million. Research analysts forecast that Global Indemnity Group, LLC will post 2.71 earnings per share for the current fiscal year.

Global Indemnity Group Announces Dividend

The firm 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 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Monday, September 30th. Global Indemnity Group’s dividend payout ratio is currently 55.12%.

Institutional Investors Weigh In On Global Indemnity Group

Several hedge funds have recently modified their holdings of the business. Innealta Capital LLC bought a new position in Global Indemnity Group during the second quarter worth $55,000. Harbor Capital Advisors Inc. grew its position 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 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 in the 1st quarter worth $2,488,000. 37.40% of the stock is owned by institutional investors.

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.