Global Indemnity Group (NASDAQ:GBLI) Research Coverage Started at StockNews.com

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

Global Indemnity Group Price Performance

Shares of GBLI stock opened at $33.23 on Friday. The stock has a market cap of $451.93 million, a PE ratio of 13.40 and a beta of 0.43. The stock has a 50-day moving average of $31.84 and a 200-day moving average of $31.36. Global Indemnity Group has a one year low of $26.50 and a one year high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last issued its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.53 by $0.19. The firm had revenue of $108.69 million during the quarter, compared to the consensus estimate of $114.00 million. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. As a group, research analysts anticipate that Global Indemnity Group will post 2.71 earnings per share for the current year.

Global Indemnity Group Dividend Announcement

The firm also recently disclosed 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 4.21%. The ex-dividend date of this dividend is Monday, September 30th. Global Indemnity Group’s payout ratio is presently 56.45%.

Hedge Funds Weigh In On Global Indemnity Group

Several institutional investors have recently modified their holdings of GBLI. Innealta Capital LLC bought a new stake in Global Indemnity Group during the 2nd quarter worth approximately $55,000. Harbor Capital Advisors Inc. raised its holdings in shares of 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 acquiring an additional 19,830 shares during the period. Boston Partners bought a new stake in Global Indemnity Group in the 1st quarter valued at $2,488,000. Finally, Cannell Capital LLC bought a new stake in Global Indemnity Group in the 4th quarter valued at $3,562,000. Institutional investors own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

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.