Global Indemnity Group, LLC Announces Quarterly Dividend of $0.35 (NASDAQ:GBLI)

Global Indemnity Group, LLC (NASDAQ:GBLI) declared a quarterly dividend on Thursday, March 6th, RTT News reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.35 per share by the insurance provider on Friday, March 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Friday, March 21st.

Global Indemnity Group has raised its dividend by an average of 11.9% per year over the last three years. Global Indemnity Group has a payout ratio of 32.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Global Indemnity Group to earn $3.48 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 40.2%.

Global Indemnity Group Stock Performance

NASDAQ:GBLI opened at $35.94 on Wednesday. Global Indemnity Group has a one year low of $28.37 and a one year high of $37.00. The stock has a market cap of $491.93 million, a PE ratio of 12.35 and a beta of 0.46. The stock has a 50 day moving average price of $35.24 and a 200 day moving average price of $34.68.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Global Indemnity Group news, CEO Praveen Kotha Reddy bought 1,500 shares of the business’s stock in a transaction on Friday, March 14th. The stock was bought at an average price of $35.96 per share, with a total value of $53,940.00. Following the completion of the purchase, the chief executive officer now directly owns 1,500 shares in the company, valued at $53,940. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 52.80% of the stock is owned by insiders.

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.