StockNews.com Begins Coverage on Global Indemnity Group (NASDAQ:GBLI)

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

Global Indemnity Group Stock Performance

NASDAQ GBLI opened at $32.25 on Friday. Global Indemnity Group has a 52-week low of $25.21 and a 52-week high of $37.00. The company has a market capitalization of $437.96 million, a P/E ratio of 17.62 and a beta of 0.47. The company has a fifty day moving average of $29.73 and a 200-day moving average of $31.63.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings results on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.75. The business had revenue of $109.26 million during the quarter, compared to the consensus estimate of $136.00 million. Global Indemnity Group had a net margin of 4.79% and a return on equity of 4.32%. As a group, analysts forecast that Global Indemnity Group will post 2.43 EPS for the current fiscal year.

Global Indemnity Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were paid a $0.35 dividend. The ex-dividend date was Wednesday, March 20th. This is an increase from Global Indemnity Group’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 4.34%. Global Indemnity Group’s payout ratio is currently 76.50%.

Institutional Trading of Global Indemnity Group

Several hedge funds have recently added to or reduced their stakes in GBLI. Ameriprise Financial Inc. increased its position in shares of Global Indemnity Group by 1.5% in the first quarter. Ameriprise Financial Inc. now owns 312,084 shares of the insurance provider’s stock valued at $8,785,000 after acquiring an additional 4,491 shares during the period. RBF Capital LLC increased its position in shares of Global Indemnity Group by 288.1% in the first quarter. RBF Capital LLC now owns 176,387 shares of the insurance provider’s stock valued at $4,963,000 after acquiring an additional 130,941 shares during the period. Cannell Capital LLC purchased a new position in shares of Global Indemnity Group in the fourth quarter valued at about $3,562,000. Renaissance Technologies LLC increased its position in shares of Global Indemnity Group by 7.1% in the first quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider’s stock valued at $2,195,000 after acquiring an additional 5,600 shares during the period. Finally, Ellsworth Advisors LLC purchased a new position in shares of Global Indemnity Group during the third quarter valued at about $393,000. 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.