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

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report report published on Friday morning. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 0.7 %

Global Indemnity Group stock opened at $32.72 on Friday. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $37.00. The business’s 50-day moving average price is $31.63 and its two-hundred day moving average price is $31.26. The stock has a market cap of $445.05 million, a PE ratio of 13.19 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $114.00 million. As a group, analysts expect that Global Indemnity Group will post 2.71 earnings per share for the current year.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 4.28%. Global Indemnity Group’s dividend payout ratio (DPR) is presently 56.45%.

Institutional Trading of Global Indemnity Group

A number of institutional investors have recently added to or reduced their stakes in GBLI. Innealta Capital LLC purchased a new stake in shares of Global Indemnity Group in the 2nd quarter valued at about $55,000. Harbor Capital Advisors Inc. grew its position in Global Indemnity Group by 223.7% during the 2nd 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 during the last quarter. Boston Partners bought a new stake in shares of Global Indemnity Group in the 1st quarter worth approximately $2,488,000. Finally, Cannell Capital LLC bought a new stake in shares of Global Indemnity Group in the 4th quarter worth approximately $3,562,000. Hedge funds and other institutional investors own 37.40% of the company’s stock.

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.