StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Free Report) in a research note published on Saturday. The firm issued a buy rating on the insurance provider’s stock.
Global Indemnity Group Price Performance
Shares of NASDAQ:GBLI traded down $1.07 during midday trading on Friday, reaching $31.05. 232 shares of the company’s stock were exchanged, compared to its average volume of 4,769. The stock has a market cap of $422.28 million, a price-to-earnings ratio of 12.95 and a beta of 0.44. Global Indemnity Group has a fifty-two week low of $26.50 and a fifty-two week high of $37.00. The firm’s 50 day simple moving average is $30.97 and its two-hundred day simple moving average is $30.59.
Global Indemnity Group (NASDAQ:GBLI – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. The firm had revenue of $112.29 million during the quarter, compared to analysts’ expectations of $90.00 million. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. Equities research analysts predict that Global Indemnity Group will post 2.55 earnings per share for the current fiscal year.
Global Indemnity Group Announces Dividend
Hedge Funds Weigh In On Global Indemnity Group
A number of institutional investors and hedge funds have recently modified their holdings of GBLI. Cannell Capital LLC acquired a new position in shares of Global Indemnity Group in the 4th quarter valued at $3,562,000. Boston Partners purchased a new stake in Global Indemnity Group in the first quarter valued at $2,488,000. Harbor Capital Advisors Inc. boosted its stake 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 acquiring an additional 19,830 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Global Indemnity Group during the second quarter worth about $55,000. 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.
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