Global Indemnity Group (NASDAQ:GBLI) Receives New Coverage from Analysts at StockNews.com

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

Global Indemnity Group Stock Down 0.4 %

Shares of NASDAQ:GBLI opened at $33.35 on Monday. The company has a 50-day moving average price of $32.34 and a two-hundred day moving average price of $31.65. Global Indemnity Group has a twelve month low of $26.50 and a twelve month high of $36.98. The firm has a market capitalization of $453.69 million, a PE ratio of 13.45 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last released its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $114.00 million. Analysts anticipate that Global Indemnity Group will post 2.71 earnings per share for the current fiscal year.

Global Indemnity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 4.20%. Global Indemnity Group’s dividend payout ratio (DPR) is 56.45%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GBLI. Innealta Capital LLC bought a new position in shares of Global Indemnity Group in the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. lifted its stake in Global Indemnity Group by 223.7% in the 2nd 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 in the last quarter. Finally, Boston Partners bought a new position in Global Indemnity Group in the 1st quarter valued at $2,488,000. Hedge funds and other 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.