Global Indemnity Group (NASDAQ:GBLI) Research Coverage Started at StockNews.com

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

Global Indemnity Group Stock Down 0.3 %

Global Indemnity Group stock opened at $33.00 on Thursday. The stock has a market cap of $448.80 million, a P/E ratio of 13.31 and a beta of 0.43. Global Indemnity Group has a twelve month low of $26.50 and a twelve month high of $37.00. The company’s 50-day moving average price is $31.43 and its two-hundred day moving average price is $31.15.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. increased its holdings 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 purchasing an additional 19,830 shares during the period. Boston Partners bought a new position in shares of Global Indemnity Group during the first quarter worth approximately $2,488,000. Innealta Capital LLC bought a new position in shares of Global Indemnity Group during the second quarter worth approximately $55,000. Finally, Cannell Capital LLC acquired a new stake in shares of Global Indemnity Group during the 4th quarter worth approximately $3,562,000. 37.40% of the stock is owned by institutional investors.

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.