Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note released on Tuesday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 0.0 %

GBLI stock opened at $34.01 on Tuesday. The company has a 50-day simple moving average of $32.57 and a 200 day simple moving average of $31.80. The company has a market capitalization of $462.67 million, a P/E ratio of 13.71 and a beta of 0.43. Global Indemnity Group has a fifty-two week low of $26.50 and a fifty-two week high of $36.76.

Global Indemnity Group (NASDAQ:GBLI) last issued its quarterly 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 company had revenue of $108.69 million during the quarter, compared to analyst estimates of $114.00 million. Equities analysts anticipate that Global Indemnity Group will post 2.71 EPS for the current year.

Global Indemnity Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 4.12%. Global Indemnity Group’s dividend payout ratio (DPR) is 56.45%.

Institutional Investors Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners acquired a new position in shares of Global Indemnity Group in the 1st quarter worth approximately $2,488,000. Harbor Capital Advisors Inc. grew its position 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 worth $892,000 after buying an additional 19,830 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Global Indemnity Group in the second quarter valued at $55,000. 37.40% of the stock is currently owned by 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.