Global Indemnity Group (NASDAQ:GBLI) Stock Passes Above 200 Day Moving Average of $30.64

Global Indemnity Group, LLC (NASDAQ:GBLI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $30.64 and traded as high as $30.75. Global Indemnity Group shares last traded at $30.75, with a volume of 2,840 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Global Indemnity Group in a research report on Friday. They set a “buy” rating for the company.

Global Indemnity Group Stock Performance

The stock has a market cap of $418.20 million, a price-to-earnings ratio of 12.30 and a beta of 0.44. The firm’s 50-day moving average is $30.95 and its two-hundred day moving average is $30.63.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.60 by $0.17. The company had revenue of $112.29 million during the quarter, compared to analyst estimates of $90.00 million. Global Indemnity Group had a return on equity of 5.40% and a net margin of 6.98%. On average, analysts predict that Global Indemnity Group, LLC will post 2.55 earnings per share for the current year.

Global Indemnity Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.55%. The ex-dividend date was Friday, June 21st. Global Indemnity Group’s dividend payout ratio is currently 56.45%.

Institutional Investors Weigh In On Global Indemnity Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its position in shares of 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 buying an additional 19,830 shares during the last quarter. Boston Partners purchased a new stake in Global Indemnity Group during the 1st quarter valued at about $2,488,000. Finally, Cannell Capital LLC acquired a new stake in Global Indemnity Group in the 4th quarter valued at about $3,562,000. 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.