Global Indemnity Group (NASDAQ:GBLI) Shares Cross Above 200 Day Moving Average – Should You Sell?

Global Indemnity Group, LLC (NASDAQ:GBLI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $31.77 and traded as high as $34.00. Global Indemnity Group shares last traded at $34.00, with a volume of 1,700 shares.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Global Indemnity Group in a research report on Tuesday. They set a “buy” rating for the company.

Global Indemnity Group Stock Performance

The firm’s 50 day moving average is $32.51 and its 200-day moving average is $31.77. The company has a market cap of $462.54 million, a PE ratio of 13.71 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $108.69 million for the quarter, compared to analysts’ expectations of $114.00 million. On average, analysts predict that Global Indemnity Group, LLC will post 2.71 EPS for the current year.

Global Indemnity Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a $0.35 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 4.12%. Global Indemnity Group’s dividend payout ratio is currently 56.45%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in Global Indemnity Group in the 2nd quarter valued at approximately $55,000. Harbor Capital Advisors Inc. raised its stake in shares of 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 in the last quarter. Finally, Boston Partners purchased a new position in Global Indemnity Group in the first 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.