StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Free Report) in a research note released on Monday morning. The brokerage issued a buy rating on the insurance provider’s stock.
Global Indemnity Group Price Performance
Global Indemnity Group stock opened at $30.52 on Monday. The stock has a market cap of $415.07 million, a P/E ratio of 12.31 and a beta of 0.45. Global Indemnity Group has a 1 year low of $26.50 and a 1 year high of $37.00. The firm’s 50 day moving average price is $31.51 and its 200-day moving average price is $30.61.
Global Indemnity Group (NASDAQ:GBLI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.17. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. The company had revenue of $112.29 million for the quarter, compared to analysts’ expectations of $90.00 million. As a group, equities analysts expect that Global Indemnity Group will post 2.55 EPS for the current year.
Global Indemnity Group Dividend Announcement
Institutional Trading of Global Indemnity Group
An institutional investor recently bought a new position in Global Indemnity Group stock. Cannell Capital LLC acquired a new position in Global Indemnity Group, LLC (NASDAQ:GBLI – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned 0.82% of Global Indemnity Group at the end of the most recent reporting period. 37.40% of the stock is currently owned by institutional investors.
Global Indemnity Group Company Profile
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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