StockNews.com Initiates Coverage on Global Indemnity Group (NASDAQ:GBLI)

Equities research analysts at StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued to investors on Thursday. The firm set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

NASDAQ:GBLI opened at $34.50 on Thursday. Global Indemnity Group has a 52 week low of $26.50 and a 52 week high of $35.15. The firm’s 50-day simple moving average is $33.12 and its 200 day simple moving average is $31.93. The firm has a market cap of $469.34 million, a price-to-earnings ratio of 13.58 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) 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 firm had revenue of $108.69 million for the quarter, compared to analyst estimates of $114.00 million. Sell-side analysts anticipate that Global Indemnity Group will post 2.71 EPS for the current year.

Institutional Trading of Global Indemnity Group

A number of institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its position 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 worth $892,000 after purchasing an additional 19,830 shares during the period. Boston Partners acquired a new stake in Global Indemnity Group during the first quarter worth about $2,488,000. Finally, Innealta Capital LLC bought a new position in Global Indemnity Group in the 2nd quarter valued at about $55,000. 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.