StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Free Report) 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 – Get Free Report) 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
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.
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