Global Indemnity Group (NASDAQ:GBLI) Shares Pass Above 200-Day Moving Average of $31.19

Global Indemnity Group, LLC (NASDAQ:GBLI)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $31.19 and traded as high as $32.95. Global Indemnity Group shares last traded at $32.50, with a volume of 2,373 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Global Indemnity Group in a research note on Friday. They set a “buy” rating for the company.

Global Indemnity Group Price Performance

The firm’s 50 day moving average price is $31.58 and its 200-day moving average price is $31.22. The firm has a market cap of $442 million, a price-to-earnings ratio of 13.10 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.19. The company had revenue of $108.69 million for the quarter, compared to analyst estimates of $114.00 million. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. Analysts expect that Global Indemnity Group, LLC will post 2.71 EPS for the current year.

Global Indemnity Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 4.31%. Global Indemnity Group’s dividend payout ratio (DPR) is 56.45%.

Institutional Trading of Global Indemnity Group

Institutional investors and hedge funds have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Global Indemnity Group during the second quarter worth $55,000. Harbor Capital Advisors Inc. increased its stake 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 valued at $892,000 after acquiring an additional 19,830 shares during the period. Boston Partners acquired a new position in Global Indemnity Group in the first quarter worth about $2,488,000. Finally, Cannell Capital LLC bought a new position in Global Indemnity Group during the fourth quarter worth about $3,562,000. 37.40% of the stock is currently owned by institutional investors.

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.