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

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

Global Indemnity Group Price Performance

Shares of Global Indemnity Group stock opened at $32.72 on Friday. The business has a fifty day simple moving average of $31.63 and a two-hundred day simple moving average of $31.26. Global Indemnity Group has a 1 year low of $26.50 and a 1 year high of $37.00. The company has a market capitalization of $445.05 million, a price-to-earnings ratio of 13.19 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly 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 return on equity of 5.79% and a net margin of 7.66%. The business had revenue of $108.69 million during the quarter, compared to the consensus estimate of $114.00 million. As a group, equities analysts anticipate that Global Indemnity Group will post 2.71 earnings per share for the current fiscal year.

Global Indemnity Group Dividend Announcement

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

Institutional Investors Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Global Indemnity Group during the second quarter worth $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 in the last quarter. Boston Partners acquired a new stake in shares of Global Indemnity Group during the first quarter worth $2,488,000. Finally, Cannell Capital LLC acquired a new stake in shares of Global Indemnity Group during the fourth quarter worth $3,562,000. Institutional investors and hedge funds 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.