Short Interest in Global Indemnity Group, LLC (NASDAQ:GBLI) Declines By 56.7%

Global Indemnity Group, LLC (NASDAQ:GBLI) was the recipient of a large decline in short interest in August. As of August 14th, there was short interest totaling 11,692 shares, a decline of 56.7% from the July 30th total of 26,976 shares. Based on an average daily trading volume, of 4,084 shares, the short-interest ratio is currently 2.9 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Trading of Global Indemnity Group

Several institutional investors have recently bought and sold shares of the company. Clearstead Advisors LLC increased its stake in Global Indemnity Group by 190.8% during the 4th 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 in the last quarter. State of Wyoming lifted its stake in shares of Global Indemnity Group by 23.8% in the fourth quarter. State of Wyoming now owns 4,898 shares of the insurance provider’s stock worth $139,000 after buying an additional 942 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new position in shares of Global Indemnity Group in the second quarter worth approximately $368,000. Boston Partners grew its holdings in shares of Global Indemnity Group by 5.0% during the third quarter. Boston Partners now owns 137,170 shares of the insurance provider’s stock valued at $3,985,000 after buying an additional 6,552 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Global Indemnity Group by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 299,626 shares of the insurance provider’s stock valued at $8,704,000 after buying an additional 1,191 shares during the last quarter. 37.40% of the stock is owned by hedge funds and other institutional investors.

Global Indemnity Group Stock Performance

Shares of Global Indemnity Group stock traded up $0.62 during midday trading on Friday, hitting $29.62. The company had a trading volume of 8,503 shares, compared to its average volume of 4,517. The stock has a market capitalization of $432.72 million, a P/E ratio of 12.60 and a beta of 0.41. The company has a 50 day moving average of $26.87 and a 200 day moving average of $27.34. Global Indemnity Group has a 52-week low of $24.28 and a 52-week high of $30.52.

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

Global Indemnity Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 18th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Thursday, June 18th. Global Indemnity Group’s payout ratio is currently 59.57%.

Analyst Ratings Changes

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

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.