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

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

Global Indemnity Group Trading Down 0.6 %

Shares of NASDAQ GBLI opened at $34.00 on Monday. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $36.76. The firm’s 50-day moving average price is $32.47 and its 200-day moving average price is $31.71. The stock has a market capitalization of $462.54 million, a price-to-earnings ratio of 13.71 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last issued its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.19. The business had revenue of $108.69 million for the quarter, compared to the consensus estimate of $114.00 million. Global Indemnity Group had a return on equity of 5.79% and a net margin of 7.66%. On average, equities analysts predict that Global Indemnity Group will post 2.71 EPS for the current fiscal year.

Global Indemnity Group Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 4.12%. The ex-dividend date was Monday, September 30th. Global Indemnity Group’s payout ratio is 56.45%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GBLI. Boston Partners bought a new position in Global Indemnity Group during the 1st quarter valued at about $2,488,000. Harbor Capital Advisors Inc. boosted its position in shares of Global Indemnity Group by 223.7% during the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after buying an additional 19,830 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Global Indemnity Group during the second quarter valued at approximately $55,000. Institutional investors 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.