Global Indemnity Group (NASDAQ:GBLI) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

by · The Cerbat Gem

Global Indemnity Group, LLC (NASDAQ:GBLI – Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $31.88 and traded as high as $34.00. Global Indemnity Group shares last traded at $33.96, with a volume of 1,491 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Global Indemnity Group in a report on Wednesday. They set a “buy” rating for the company.

View Our Latest Report on Global Indemnity Group

Global Indemnity Group Stock Performance

The firm’s 50 day simple moving average is $32.95 and its 200-day simple moving average is $31.89. The company has a market cap of $462.26 million, a price-to-earnings ratio of 13.38 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI – Get Free Report) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (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 company had revenue of $108.69 million for the quarter, compared to analysts’ expectations of $114.00 million. As a group, sell-side analysts expect that Global Indemnity Group, LLC will post 2.71 EPS 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 given a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 4.12%. Global Indemnity Group’s payout ratio is currently 55.12%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in Global Indemnity Group in the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. grew its position in Global Indemnity Group by 223.7% in the 2nd 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 last quarter. Finally, Boston Partners purchased a new position in Global Indemnity Group in the 1st quarter valued at $2,488,000. Institutional investors and hedge funds own 37.40% of the company’s stock.

About Global Indemnity Group

(Get Free Report)

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.

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