Short Interest in Global Indemnity Group, LLC (NASDAQ:GBLI) Increases By 104.6%

Global Indemnity Group, LLC (NASDAQ:GBLI) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 26,976 shares, an increase of 104.6% from the July 15th total of 13,185 shares. Based on an average daily volume of 3,927 shares, the short-interest ratio is currently 6.9 days. Approximately 0.3% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Global Indemnity Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Hedge Funds Weigh In On Global Indemnity Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in Global Indemnity Group by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 298,435 shares of the insurance provider’s stock worth $9,359,000 after acquiring an additional 2,565 shares during the last quarter. Cannell Capital LLC lifted its stake in shares of Global Indemnity Group by 1.4% during the 2nd quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider’s stock worth $8,853,000 after purchasing an additional 3,841 shares during the period. State of Wyoming boosted its holdings in shares of Global Indemnity Group by 70.5% during the second quarter. State of Wyoming now owns 4,524 shares of the insurance provider’s stock worth $142,000 after purchasing an additional 1,870 shares during the last quarter. Boston Partners increased its stake in Global Indemnity Group by 5.0% in the third quarter. Boston Partners now owns 137,170 shares of the insurance provider’s stock valued at $3,985,000 after purchasing an additional 6,552 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in Global Indemnity Group by 190.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 954 shares during the last quarter. Hedge funds and other institutional investors own 37.40% of the company’s stock.

Global Indemnity Group Stock Down 4.3%

Shares of GBLI traded down $1.23 during trading hours on Friday, reaching $27.07. 7,893 shares of the company traded hands, compared to its average volume of 4,181. The stock has a market capitalization of $395.47 million, a PE ratio of 11.52 and a beta of 0.41. Global Indemnity Group has a fifty-two week low of $24.28 and a fifty-two week high of $30.52. The stock has a fifty day simple moving average of $26.49 and a 200 day simple moving average of $27.42.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). Global Indemnity Group had a return on equity of 5.56% and a net margin of 7.50%.The company had revenue of $116.10 million for the quarter. Research analysts predict that Global Indemnity Group will post 2.68 EPS for the current fiscal year.

Global Indemnity Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, June 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.2%. Global Indemnity Group’s payout ratio is 59.57%.

About Global Indemnity Group

Global Indemnity Group (NASDAQ: GBLI) is a specialty property and casualty insurance holding company headquartered in Princeton, New Jersey. Through its subsidiaries, the company focuses on underwriting commercial niche insurance products designed to meet the needs of small to mid-sized businesses and select specialty markets. Its approach centers on disciplined underwriting, customized policy structures and targeted distribution channels to address coverage gaps often underserved by standard carriers.

The company’s product portfolio encompasses surety and fidelity bonds, workers’ compensation, general liability, commercial auto, professional liability and environmental liability.