Global Indemnity Group (NASDAQ:GBLI) Hits New 1-Year High – Here’s Why

Global Indemnity Group, LLC (NASDAQ:GBLI) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.00 and last traded at $37.00, with a volume of 4138 shares changing hands. The stock had previously closed at $34.50.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Global Indemnity Group in a research note on Thursday. They issued a “buy” rating on the stock.

Global Indemnity Group Stock Performance

The stock’s fifty day simple moving average is $33.17 and its two-hundred day simple moving average is $31.95. The company has a market capitalization of $470.70 million, a price-to-earnings ratio of 13.58 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last released its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.53 by $0.19. The business had revenue of $108.69 million during the quarter, compared to analyst estimates of $114.00 million. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. On average, equities analysts anticipate that Global Indemnity Group, LLC will post 2.71 EPS for the current fiscal year.

Global Indemnity Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a $0.35 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 4.05%. Global Indemnity Group’s dividend payout ratio is currently 55.12%.

Institutional Investors Weigh In On Global Indemnity Group

Several large investors have recently modified their holdings of GBLI. Innealta Capital LLC acquired a new stake in shares of Global Indemnity Group during the second quarter worth $55,000. Harbor Capital Advisors Inc. raised its holdings in 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 period. Finally, Boston Partners acquired a new stake in Global Indemnity Group during the 1st quarter worth about $2,488,000. 37.40% of the stock is 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.