Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report issued on Saturday. The firm set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

GBLI stock opened at $32.75 on Friday. The business has a fifty day moving average price of $31.78 and a 200 day moving average price of $31.34. Global Indemnity Group has a fifty-two week low of $26.50 and a fifty-two week high of $37.00. The stock has a market capitalization of $445.53 million, a price-to-earnings ratio of 13.21 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.19. The company had revenue of $108.69 million during the quarter, compared to analyst estimates of $114.00 million. Global Indemnity Group had a return on equity of 5.79% and a net margin of 7.66%. On average, equities analysts expect that Global Indemnity Group will post 2.71 earnings per share for the current fiscal year.

Institutional Trading of Global Indemnity Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cannell Capital LLC bought a new position in Global Indemnity Group in the 4th quarter valued at $3,562,000. Boston Partners bought a new position in Global Indemnity Group in the first quarter valued at about $2,488,000. Harbor Capital Advisors Inc. increased its position in Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after purchasing an additional 19,830 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Global Indemnity Group in the second quarter worth about $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.