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

StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report issued on Tuesday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

NASDAQ:GBLI opened at $34.00 on Tuesday. Global Indemnity Group has a twelve month low of $26.50 and a twelve month high of $36.76. The firm has a market capitalization of $462.54 million, a price-to-earnings ratio of 13.71 and a beta of 0.43. The stock’s 50 day moving average price is $32.83 and its two-hundred day moving average price is $31.88.

Global Indemnity Group (NASDAQ:GBLI) last issued its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $108.69 million for the quarter, compared to the consensus estimate of $114.00 million. As a group, analysts anticipate that Global Indemnity Group will post 2.71 earnings per share for the current year.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 4.12%. Global Indemnity Group’s dividend payout ratio is 56.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GBLI. Innealta Capital LLC bought a new position in Global Indemnity Group during the second quarter worth $55,000. Harbor Capital Advisors Inc. lifted its stake in shares of Global Indemnity Group by 223.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after buying an additional 19,830 shares during the last quarter. Finally, Boston Partners acquired a new stake in shares of Global Indemnity Group during the 1st quarter worth about $2,488,000. 37.40% of the stock is currently owned by institutional investors.

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.