Global Indemnity Group (NASDAQ:GBLI) Research Coverage Started at StockNews.com

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

Global Indemnity Group Trading Up 2.9 %

NASDAQ:GBLI opened at $31.84 on Thursday. Global Indemnity Group has a 12-month low of $25.74 and a 12-month high of $37.00. The firm has a market cap of $433.02 million, a price-to-earnings ratio of 12.74 and a beta of 0.46. The company’s 50-day moving average is $31.20 and its two-hundred day moving average is $30.99.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly earnings data on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.75. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. The business had revenue of $109.26 million for the quarter, compared to the consensus estimate of $136.00 million. On average, equities research analysts forecast that Global Indemnity Group will post 2.43 earnings per share for the current fiscal year.

Global Indemnity Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.35 per share. This is a boost from Global Indemnity Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, March 20th. This represents a $1.40 annualized dividend and a dividend yield of 4.40%. Global Indemnity Group’s dividend payout ratio (DPR) is 56.45%.

Hedge Funds Weigh In On Global Indemnity Group

A hedge fund recently bought a new stake in Global Indemnity Group stock. Cannell Capital LLC acquired a new stake in shares of Global Indemnity Group, LLC (NASDAQ:GBLI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and 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 about 0.82% of Global Indemnity Group at the end of the most recent reporting period. Institutional investors 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.