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

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note released on Tuesday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

Shares of GBLI stock opened at $32.01 on Tuesday. The stock’s 50 day simple moving average is $30.75 and its 200 day simple moving average is $31.29. Global Indemnity Group has a twelve month low of $25.21 and a twelve month high of $37.00. The company has a market capitalization of $434.70 million, a price-to-earnings ratio of 17.49 and a beta of 0.46.

Global Indemnity Group (NASDAQ:GBLI) last released its quarterly earnings results on Wednesday, March 13th. The insurance provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.75. Global Indemnity Group had a net margin of 4.79% and a return on equity of 4.32%. The company had revenue of $109.26 million for the quarter, compared to analyst estimates of $136.00 million. On average, analysts forecast that Global Indemnity Group will post 2.43 EPS for the current fiscal year.

Global Indemnity Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a $0.35 dividend. This is an increase from Global Indemnity Group’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Wednesday, March 20th. Global Indemnity Group’s dividend payout ratio (DPR) is currently 76.50%.

Hedge Funds Weigh In On Global Indemnity Group

An institutional investor recently bought a new position in Global Indemnity Group stock. Cannell Capital LLC purchased a new position in shares of Global Indemnity Group, LLC (NASDAQ:GBLI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned about 0.82% of Global Indemnity Group as of its most recent SEC filing. Hedge funds and other institutional investors own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

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.