Global Indemnity Group (NASDAQ:GBLI) Hits New 12-Month High – What’s Next?

Global Indemnity Group, LLC (NASDAQ:GBLI) reached a new 52-week high on Thursday . The stock traded as high as $37.00 and last traded at $37.00, with a volume of 4138 shares. The stock had previously closed at $34.50.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Global Indemnity Group in a research report on Thursday. They issued a “buy” rating for the company.

Global Indemnity Group Trading Up 0.3 %

The stock has a market capitalization of $470.70 million, a price-to-earnings ratio of 13.58 and a beta of 0.43. The stock has a 50-day simple moving average of $33.17 and a 200 day simple moving average of $31.95.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, topping 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 business had revenue of $108.69 million during the quarter, compared to analysts’ expectations of $114.00 million. Sell-side analysts expect that Global Indemnity Group, LLC will post 2.71 earnings per share for the current fiscal year.

Global Indemnity Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, September 30th. Global Indemnity Group’s dividend payout ratio (DPR) is currently 55.12%.

Hedge Funds Weigh In On Global Indemnity Group

A number of hedge funds have recently modified their holdings of GBLI. Innealta Capital LLC acquired a new stake in Global Indemnity Group during the second quarter valued at $55,000. Harbor Capital Advisors Inc. raised its stake 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 in the last quarter. Finally, Boston Partners acquired a new position in shares of Global Indemnity Group during the first quarter valued at about $2,488,000. 37.40% of the stock is owned by institutional investors and hedge funds.

About Global Indemnity Group

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.