StockNews.com Begins Coverage on Global Indemnity Group (NASDAQ:GBLI)

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

Global Indemnity Group Stock Down 0.9 %

Shares of GBLI opened at $34.30 on Thursday. The firm has a market cap of $466.46 million, a price-to-earnings ratio of 9.22 and a beta of 0.43. The company’s fifty day moving average is $33.25 and its 200-day moving average is $31.98. Global Indemnity Group has a 12 month low of $26.50 and a 12 month high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last posted its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.53 by $0.19. Global Indemnity Group had a net margin of 9.05% and a return on equity of 7.82%. The firm had revenue of $108.69 million for the quarter, compared to the consensus estimate of $114.00 million. As a group, research analysts predict that Global Indemnity Group will post 2.71 earnings per share for the current fiscal year.

Global Indemnity Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.35 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 4.08%. Global Indemnity Group’s dividend payout ratio (DPR) is currently 48.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Global Indemnity Group during the 2nd quarter valued at $55,000. Harbor Capital Advisors Inc. increased 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 worth $892,000 after purchasing an additional 19,830 shares during the period. Finally, Boston Partners acquired a new position in shares of Global Indemnity Group during the first quarter valued at about $2,488,000. 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.