StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Free Report) in a research note released on Thursday. The brokerage issued a buy rating on the insurance provider’s stock.
Global Indemnity Group Stock Up 3.1 %
NASDAQ GBLI opened at $31.50 on Thursday. The stock has a market capitalization of $428.40 million, a P/E ratio of 12.60 and a beta of 0.44. Global Indemnity Group has a 52-week low of $26.50 and a 52-week high of $37.00. The firm has a 50-day moving average price of $31.09 and a 200 day moving average price of $30.67.
Global Indemnity Group (NASDAQ:GBLI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.17. The firm had revenue of $112.29 million during the quarter, compared to analysts’ expectations of $90.00 million. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. On average, equities research analysts expect that Global Indemnity Group will post 2.55 earnings per share for the current fiscal year.
Global Indemnity Group Dividend Announcement
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Cannell Capital LLC purchased a new position in Global Indemnity Group during the fourth quarter worth about $3,562,000. Harbor Capital Advisors Inc. grew its position in 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 period. Finally, Boston Partners acquired a new position in Global Indemnity Group during the first quarter worth about $2,488,000. 37.40% of the stock is owned by hedge funds and other 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.
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