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

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report issued on Sunday morning. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

Shares of GBLI stock opened at $33.00 on Friday. The stock has a market cap of $448.80 million, a P/E ratio of 13.31 and a beta of 0.43. The company has a fifty day moving average price of $32.11 and a two-hundred day moving average price of $31.52. Global Indemnity Group has a one year low of $26.50 and a one year high of $37.00.

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

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Monday, September 30th. Global Indemnity Group’s dividend payout ratio (DPR) is 56.45%.

Hedge Funds Weigh In On Global Indemnity Group

Hedge funds have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Global Indemnity Group in the 2nd quarter valued at about $55,000. Harbor Capital Advisors Inc. grew its holdings in shares of Global Indemnity Group by 223.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after purchasing an additional 19,830 shares during the last quarter. Boston Partners bought a new stake in shares of Global Indemnity Group during the 1st quarter valued at approximately $2,488,000. Finally, Cannell Capital LLC bought a new stake in shares of Global Indemnity Group during the 4th quarter valued at approximately $3,562,000. 37.40% of the stock is owned by institutional investors.

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.