Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note published on Tuesday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Trading Up 0.0 %

Global Indemnity Group stock opened at $34.00 on Tuesday. The firm has a 50 day simple moving average of $32.77 and a 200 day simple moving average of $31.86. Global Indemnity Group has a 1-year low of $26.50 and a 1-year high of $36.76. The firm has a market capitalization of $462.40 million, a price-to-earnings ratio of 13.39 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly 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. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. The firm had revenue of $108.69 million during the quarter, compared to the consensus estimate of $114.00 million. On average, equities research analysts forecast that Global Indemnity Group will post 2.71 EPS for the current year.

Global Indemnity Group Announces Dividend

The company 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. This represents a $1.40 annualized dividend and a yield of 4.12%. The ex-dividend date was Monday, September 30th. Global Indemnity Group’s payout ratio is 55.12%.

Institutional Trading of Global Indemnity Group

A number of hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in shares of Global Indemnity Group during the 2nd quarter worth $55,000. Harbor Capital Advisors Inc. lifted its holdings 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 acquiring an additional 19,830 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of Global Indemnity Group during the 1st quarter worth $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.