Global Indemnity Group (NASDAQ:GBLI) Now Covered by Analysts at StockNews.com

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

Global Indemnity Group Trading Down 0.7 %

Shares of Global Indemnity Group stock opened at $33.00 on Friday. The firm’s 50-day moving average price is $31.88 and its 200 day moving average price is $31.37. The firm has a market capitalization of $448.80 million, a PE ratio of 13.31 and a beta of 0.43. Global Indemnity Group has a twelve month low of $26.50 and a twelve month high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last released its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.19. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. The business had revenue of $108.69 million for the quarter, compared to analyst estimates of $114.00 million. On average, sell-side analysts predict that Global Indemnity Group will post 2.71 EPS for the current fiscal year.

Global Indemnity Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.24%. The ex-dividend date is Monday, September 30th. Global Indemnity Group’s payout ratio is currently 56.45%.

Institutional Investors Weigh In On Global Indemnity Group

Institutional investors have recently modified their holdings of the company. Cannell Capital LLC purchased a new position in shares of Global Indemnity Group in the 4th quarter valued at about $3,562,000. Boston Partners acquired a new position in Global Indemnity Group in the first quarter valued at approximately $2,488,000. Harbor Capital Advisors Inc. increased its stake in Global Indemnity Group by 223.7% in the second 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. Finally, Innealta Capital LLC purchased a new stake in shares of Global Indemnity Group during the 2nd quarter worth approximately $55,000. 37.40% of the stock is owned by hedge funds and other institutional investors.

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.