Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

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

Global Indemnity Group Stock Performance

Shares of NASDAQ GBLI opened at $31.24 on Friday. The stock has a market cap of $424.99 million, a price-to-earnings ratio of 12.60 and a beta of 0.44. The business has a 50 day simple moving average of $30.96 and a 200 day simple moving average of $30.61. Global Indemnity Group has a 52 week low of $26.50 and a 52 week high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.60 by $0.17. The business had revenue of $112.29 million during the quarter, compared to analysts’ expectations of $90.00 million. Global Indemnity Group had a return on equity of 5.40% and a net margin of 6.98%. On average, analysts predict that Global Indemnity Group will post 2.55 EPS for the current year.

Global Indemnity Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 21st were given a dividend of $0.35 per share. The ex-dividend date was Friday, June 21st. This represents a $1.40 dividend on an annualized basis and a yield of 4.48%. Global Indemnity Group’s payout ratio is currently 56.45%.

Institutional Investors Weigh In On Global Indemnity Group

A number of large investors have recently added to or reduced their stakes in GBLI. Innealta Capital LLC bought a new stake in Global Indemnity Group during the second quarter worth approximately $55,000. Harbor Capital Advisors Inc. lifted 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 buying an additional 19,830 shares during the last quarter. Boston Partners acquired a new position in shares of Global Indemnity Group during the first quarter worth approximately $2,488,000. Finally, Cannell Capital LLC acquired a new position in shares of Global Indemnity Group during the fourth quarter worth approximately $3,562,000. 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.