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

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

Global Indemnity Group Price Performance

Shares of GBLI stock opened at $32.50 on Friday. The firm has a market cap of $441.35 million, a P/E ratio of 16.50 and a beta of 0.47. Global Indemnity Group has a 1-year low of $25.21 and a 1-year high of $37.00. The firm has a fifty day moving average of $29.68 and a two-hundred day moving average of $31.67.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly earnings data on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.75. The company had revenue of $109.26 million during the quarter, compared to analyst estimates of $136.00 million. Global Indemnity Group had a net margin of 4.79% and a return on equity of 4.32%. On average, sell-side analysts expect that Global Indemnity Group will post 2.43 EPS for the current year.

Global Indemnity Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from Global Indemnity Group’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 4.31%. Global Indemnity Group’s payout ratio is 76.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming boosted its holdings in shares of Global Indemnity Group by 42.9% in the 2nd quarter. State of Wyoming now owns 1,400 shares of the insurance provider’s stock valued at $47,000 after buying an additional 420 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of Global Indemnity Group in the 2nd quarter valued at about $259,000. Renaissance Technologies LLC boosted its holdings in shares of Global Indemnity Group by 36.5% in the 2nd quarter. Renaissance Technologies LLC now owns 11,214 shares of the insurance provider’s stock valued at $377,000 after buying an additional 3,000 shares during the period. Ellsworth Advisors LLC acquired a new position in shares of Global Indemnity Group in the 3rd quarter valued at about $393,000. Finally, Cannell Capital LLC acquired a new position in shares of Global Indemnity Group in the 4th quarter valued at about $3,562,000. 37.40% of the stock is owned by institutional investors and hedge funds.

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.