Global Indemnity Group (NASDAQ:GBLI) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a note issued to investors on Saturday. The firm set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

Shares of Global Indemnity Group stock opened at $32.75 on Friday. The stock’s fifty day simple moving average is $31.78 and its 200 day simple moving average is $31.34. The company has a market capitalization of $445.53 million, a PE ratio of 13.21 and a beta of 0.43. Global Indemnity Group has a 12 month low of $26.50 and a 12 month high of $37.00.

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

Institutional Investors Weigh In On Global Indemnity Group

Several large investors have recently made changes to their positions in GBLI. Cannell Capital LLC bought a new stake in Global Indemnity Group in the 4th quarter valued at $3,562,000. Boston Partners acquired a new stake in shares of Global Indemnity Group in the 1st quarter valued at about $2,488,000. Harbor Capital Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 19,830 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Global Indemnity Group during the second quarter worth about $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.