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

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report sent to investors on Wednesday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

NASDAQ:GBLI opened at $32.13 on Wednesday. Global Indemnity Group has a twelve month low of $26.50 and a twelve month high of $37.00. The firm has a market capitalization of $436.97 million, a price-to-earnings ratio of 12.96 and a beta of 0.43. The stock’s 50 day moving average price is $31.26 and its two-hundred day moving average price is $30.99.

Global Indemnity Group (NASDAQ:GBLI) last issued 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 the consensus estimate of $114.00 million. As a group, analysts anticipate that Global Indemnity Group will post 2.71 earnings per share for the current year.

Hedge Funds Weigh In On Global Indemnity Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of Global Indemnity Group in the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. boosted its position in Global Indemnity Group by 223.7% during the second 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. Boston Partners bought a new position in Global Indemnity Group during the first quarter worth $2,488,000. Finally, Cannell Capital LLC bought a new stake in shares of Global Indemnity Group during the 4th quarter worth about $3,562,000. Institutional investors 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.