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

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued to investors on Wednesday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

Shares of NASDAQ GBLI opened at $32.13 on Wednesday. The firm has a market cap of $436.97 million, a PE ratio of 12.96 and a beta of 0.43. Global Indemnity Group has a 1-year low of $26.50 and a 1-year high of $37.00. The company has a fifty day moving average price of $31.26 and a 200 day moving average price of $31.01.

Global Indemnity Group (NASDAQ:GBLI) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share 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 during the quarter, compared to analyst estimates of $114.00 million. Equities research analysts forecast that Global Indemnity Group will post 2.71 EPS for the current year.

Hedge Funds Weigh In On Global Indemnity Group

A number of large investors have recently modified their holdings of GBLI. Cannell Capital LLC acquired a new position in shares of Global Indemnity Group during the 4th quarter worth about $3,562,000. Boston Partners acquired a new position in shares of Global Indemnity Group during the 1st quarter worth about $2,488,000. Harbor Capital Advisors Inc. boosted 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 buying an additional 19,830 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Global Indemnity Group during the 2nd quarter worth about $55,000. 37.40% of the stock is currently owned by institutional investors and hedge funds.

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.