Global Indemnity Group (NASDAQ:GBLI) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Get Rating) in a report issued on Tuesday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Separately, TheStreet lowered Global Indemnity Group from a b+ rating to a c+ rating in a research note on Friday, March 10th.

Global Indemnity Group Stock Performance

Shares of GBLI opened at $27.35 on Tuesday. Global Indemnity Group has a 52-week low of $20.52 and a 52-week high of $30.72. The business’s 50 day moving average price is $27.81 and its two-hundred day moving average price is $26.91. The firm has a market cap of $373.05 million, a PE ratio of 25.32 and a beta of 0.35.

Global Indemnity Group (NASDAQ:GBLI – Get Rating) last issued its quarterly earnings results on Thursday, March 9th. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.13). Global Indemnity Group had a net margin of 2.53% and a return on equity of 2.78%. The business had revenue of $155.64 million during the quarter, compared to analyst estimates of $155.00 million. Research analysts predict that Global Indemnity Group will post 2.35 EPS for the current fiscal year.

Global Indemnity Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, March 23rd. Global Indemnity Group’s payout ratio is 92.59%.

Hedge Funds Weigh In On Global Indemnity Group

A number of institutional investors have recently modified their holdings of GBLI. First Republic Investment Management Inc. acquired a new position in shares of Global Indemnity Group during the second quarter worth approximately $259,000. Cullen Frost Bankers Inc. raised its position in Global Indemnity Group by 18.2% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 13,000 shares of the insurance provider’s stock valued at $287,000 after buying an additional 2,000 shares during the last quarter. Mutual Advisors LLC bought a new position in Global Indemnity Group during the 4th quarter valued at $317,000. Renaissance Technologies LLC lifted its stake in Global Indemnity Group by 7.1% during the 1st quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider’s stock valued at $2,195,000 after acquiring an additional 5,600 shares in the last quarter. Finally, Cove Street Capital LLC lifted its stake in Global Indemnity Group by 2.1% during the 1st quarter. Cove Street Capital LLC now owns 81,882 shares of the insurance provider’s stock valued at $2,305,000 after acquiring an additional 1,647 shares in the last quarter. 45.83% of the stock is owned by institutional investors and hedge funds.

Global Indemnity Group Company Profile

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Global Indemnity Group LLC engages in providing diversified insurance and reinsurance services. It operates through the following segments: Commercial Specialty, Reinsurance Operations, and Exited Lines. The Commercial Specialty segment provides specialty and casualty products designed for product lines such as small business binding authority, property brokerage, vacant express and programs.