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

by · The Markets Daily

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

Global Indemnity Group Price Performance

GBLI opened at $32.50 on Friday. The firm has a market capitalization of $442 million, a price-to-earnings ratio of 13.10 and a beta of 0.43. The company’s 50 day simple moving average is $31.58 and its two-hundred day simple moving average is $31.24. Global Indemnity Group has a 1-year low of $26.50 and a 1-year high of $37.00.

Global Indemnity Group (NASDAQ:GBLI – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.19. The firm 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 anticipate that Global Indemnity Group will post 2.71 earnings per share for the current fiscal year.

Global Indemnity Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Monday, September 30th. Global Indemnity Group’s payout ratio is currently 56.45%.

Hedge Funds Weigh In On Global Indemnity Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Cannell Capital LLC purchased a new stake in shares of Global Indemnity Group during the 4th quarter valued at approximately $3,562,000. Boston Partners acquired a new stake in Global Indemnity Group during the first quarter worth $2,488,000. Harbor Capital Advisors Inc. raised its position in Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after purchasing an additional 19,830 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Global Indemnity Group in the 2nd quarter valued at $55,000. 37.40% of the stock is currently owned by institutional investors and hedge funds.

Global Indemnity Group Company Profile

(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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