Global Indemnity Group (NASDAQ:GBLI) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) 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) 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

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $1.40 annualized dividend and a yield of 4.43%. Global Indemnity Group’s dividend payout ratio (DPR) is presently 56.45%.

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.