StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Free Report) in a research note issued to investors on Saturday. The firm issued a buy rating on the insurance provider’s stock.
Global Indemnity Group Trading Down 1.6 %
NASDAQ GBLI opened at $31.61 on Friday. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $37.00. The company has a fifty day simple moving average of $30.96 and a two-hundred day simple moving average of $30.60. The stock has a market cap of $429.90 million, a P/E ratio of 12.75 and a beta of 0.44.
Global Indemnity Group (NASDAQ:GBLI – Get Free Report) last issued its earnings results on Wednesday, May 8th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. The company had revenue of $112.29 million during the quarter, compared to analyst estimates of $90.00 million. Global Indemnity Group had a return on equity of 5.40% and a net margin of 6.98%. As a group, sell-side analysts forecast that Global Indemnity Group will post 2.55 earnings per share for the current year.
Global Indemnity Group Announces Dividend
Institutional Trading of Global Indemnity Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cannell Capital LLC purchased a new stake in Global Indemnity Group in the fourth quarter valued at $3,562,000. Boston Partners purchased a new stake in shares of Global Indemnity Group in the first quarter worth about $2,488,000. Harbor Capital Advisors Inc. grew its holdings 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 acquiring an additional 19,830 shares during the period. Finally, Innealta Capital LLC purchased a new position in Global Indemnity Group during the second quarter valued at approximately $55,000. Institutional investors and hedge funds own 37.40% of the company’s stock.
About Global Indemnity Group
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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