Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

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

Global Indemnity Group Price Performance

Shares of GBLI traded down $1.07 during mid-day trading on Friday, reaching $31.05. The stock had a trading volume of 232 shares, compared to its average volume of 4,769. The firm has a market cap of $422.28 million, a price-to-earnings ratio of 12.95 and a beta of 0.44. The business’s fifty day moving average is $30.97 and its 200 day moving average is $30.59. Global Indemnity Group has a 52-week low of $26.50 and a 52-week high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last released its earnings results on Wednesday, May 8th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. The company had revenue of $112.29 million for the quarter, compared to analyst estimates of $90.00 million. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. As a group, sell-side analysts anticipate that Global Indemnity Group will post 2.55 EPS for the current fiscal year.

Global Indemnity Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.51%. Global Indemnity Group’s payout ratio is 56.45%.

Hedge Funds Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners acquired a new position in Global Indemnity Group during the 1st quarter worth approximately $2,488,000. Cannell Capital LLC acquired a new position in shares of Global Indemnity Group during the 4th quarter worth $3,562,000. Innealta Capital LLC acquired a new position in Global Indemnity Group during the second quarter worth about $55,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Global Indemnity Group by 223.7% during 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 during the last quarter. 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.