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

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report published on Thursday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

GBLI stock opened at $30.95 on Thursday. The company’s 50 day moving average price is $31.20 and its 200 day moving average price is $31.04. Global Indemnity Group has a fifty-two week low of $25.74 and a fifty-two week high of $37.00. The firm has a market capitalization of $420.92 million, a price-to-earnings ratio of 12.42 and a beta of 0.46.

Global Indemnity Group (NASDAQ:GBLI) last released its earnings results on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.75. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. The firm had revenue of $109.26 million for the quarter, compared to analyst estimates of $136.00 million. Equities analysts forecast that Global Indemnity Group will post 2.43 EPS for the current fiscal year.

Global Indemnity Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.52%. This is a positive change from Global Indemnity Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, March 20th. Global Indemnity Group’s dividend payout ratio is presently 56.45%.

Institutional Trading of Global Indemnity Group

A hedge fund recently bought a new stake in Global Indemnity Group stock. Cannell Capital LLC purchased a new stake in Global Indemnity Group, LLC (NASDAQ:GBLI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned about 0.82% of Global Indemnity Group as of its most recent SEC filing. 37.40% of the stock is currently 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.