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

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

Global Indemnity Group Trading Up 0.1 %

Shares of NASDAQ GBLI opened at $34.00 on Wednesday. The stock has a 50 day simple moving average of $33.05 and a 200-day simple moving average of $31.92. The company has a market cap of $462.54 million, a PE ratio of 13.39 and a beta of 0.43. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $35.15.

Global Indemnity Group (NASDAQ:GBLI) last issued its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.19. The business had revenue of $108.69 million during the quarter, compared to the consensus estimate of $114.00 million. Global Indemnity Group had a return on equity of 5.79% and a net margin of 7.66%. Sell-side analysts forecast that Global Indemnity Group will post 2.71 earnings per share for the current fiscal year.

Global Indemnity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a dividend of $0.35 per share. The ex-dividend date was Monday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 4.12%. Global Indemnity Group’s dividend payout ratio is presently 55.12%.

Institutional Investors Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GBLI. Boston Partners bought a new stake in Global Indemnity Group during the first quarter worth approximately $2,488,000. Harbor Capital Advisors Inc. raised its holdings in Global Indemnity Group by 223.7% during the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after purchasing an additional 19,830 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in Global Indemnity Group during the second quarter worth approximately $55,000. Institutional investors own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

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.