Global Indemnity Group (NASDAQ:GBLI) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Global Indemnity Group (NASDAQ:GBLI) posted its quarterly earnings results on Wednesday. The insurance provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08), FiscalAI reports. Global Indemnity Group had a net margin of 6.74% and a return on equity of 4.69%. The business had revenue of $112.94 million during the quarter.

Global Indemnity Group Trading Up 3.6%

Shares of GBLI traded up $0.75 during trading hours on Friday, hitting $21.75. The company had a trading volume of 10,904 shares, compared to its average volume of 6,792. The company has a market capitalization of $317.77 million, a PE ratio of 10.36 and a beta of 0.52. Global Indemnity Group has a one year low of $18.27 and a one year high of $30.50. The company’s fifty day moving average price is $25.65 and its two-hundred day moving average price is $27.03.

Global Indemnity Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 18th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, September 18th. Global Indemnity Group’s payout ratio is presently 66.67%.

Institutional Investors Weigh In On Global Indemnity Group

An institutional investor recently raised its stake in Global Indemnity Group stock. State of Wyoming raised its stake in Global Indemnity Group, LLC (NASDAQ:GBLI) by 22.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,993 shares of the insurance provider’s stock after purchasing an additional 1,095 shares during the period. State of Wyoming’s holdings in Global Indemnity Group were worth $163,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 37.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Global Indemnity Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Global Indemnity Group Company Profile

Global Indemnity Group, LLC (NASDAQ: GBLI) is an insurance holding company that provides specialty property and casualty insurance and reinsurance products. Its business is focused on risks that may require specialized underwriting expertise, including commercial, professional and personal insurance exposures.

Through its operating subsidiaries, the company offers products in areas such as excess and surplus lines, commercial property and casualty coverage, specialty personal lines, and other niche insurance markets.