Global Indemnity Group (NASDAQ:GBLI) Receives New Coverage from Analysts at StockNews.com

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

Global Indemnity Group Stock Performance

NASDAQ GBLI opened at $31.38 on Monday. The firm has a 50-day moving average of $30.36 and a 200-day moving average of $31.44. The stock has a market cap of $426.14 million, a PE ratio of 15.93 and a beta of 0.47. Global Indemnity Group has a 52-week low of $25.21 and a 52-week high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last released its quarterly earnings results on Wednesday, March 13th. The insurance provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.75. Global Indemnity Group had a net margin of 4.79% and a return on equity of 4.32%. The business had revenue of $109.26 million for the quarter, compared to analyst estimates of $136.00 million. As a group, analysts predict that Global Indemnity Group will post 2.43 EPS for the current fiscal year.

Global Indemnity Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were issued a $0.35 dividend. This is a positive change from Global Indemnity Group’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 4.46%. The ex-dividend date was Wednesday, March 20th. Global Indemnity Group’s dividend payout ratio (DPR) is currently 76.50%.

Hedge Funds Weigh In On Global Indemnity Group

A hedge fund recently bought a new stake in Global Indemnity Group stock. Cannell Capital LLC purchased a new stake in shares of Global Indemnity Group, LLC (NASDAQ:GBLI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned about 0.82% of Global Indemnity Group at the end of the most recent quarter. Institutional investors and hedge funds own 37.40% of the company’s stock.

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.