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

StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) 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) 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

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Friday, June 21st. Global Indemnity Group’s payout ratio is presently 56.45%.

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.