Global Indemnity Group, LLC (NASDAQ:GBLI) Declares Quarterly Dividend of $0.35

Global Indemnity Group, LLC (NASDAQ:GBLI) announced a quarterly dividend on Thursday, March 5th. Shareholders of record on Friday, March 20th will be paid a dividend of 0.35 per share by the insurance provider on Monday, March 30th. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, March 20th.

Global Indemnity Group has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Global Indemnity Group has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Global Indemnity Group to earn $3.48 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 40.2%.

Global Indemnity Group Trading Up 0.7%

GBLI opened at $28.93 on Wednesday. The stock has a market capitalization of $414.32 million, a P/E ratio of 16.92 and a beta of 0.41. The stock has a 50-day moving average price of $28.60 and a 200-day moving average price of $28.68. Global Indemnity Group has a 12-month low of $25.88 and a 12-month high of $37.00.

Institutional Investors Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners boosted its holdings in Global Indemnity Group by 9.6% during the 4th quarter. Boston Partners now owns 150,351 shares of the insurance provider’s stock valued at $4,270,000 after acquiring an additional 13,181 shares during the period. State of Wyoming increased its stake in Global Indemnity Group by 23.8% in the 4th quarter. State of Wyoming now owns 4,898 shares of the insurance provider’s stock worth $139,000 after purchasing an additional 942 shares during the period. Clearstead Advisors LLC lifted its position 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. Flagship Capital Management Inc. bought a new stake in Global Indemnity Group in the fourth quarter valued at approximately $241,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in shares of Global Indemnity Group during the fourth quarter valued at approximately $330,000. Institutional investors own 37.40% of the company’s stock.

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.