Short Interest in Global Indemnity Group, LLC (NASDAQ:GBLI) Declines By 56.7%

Global Indemnity Group, LLC (NASDAQ:GBLI) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 11,692 shares, a decrease of 56.7% from the July 30th total of 26,976 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 4,084 shares, the days-to-cover ratio is presently 2.9 days.

Global Indemnity Group Stock Performance

Shares of Global Indemnity Group stock traded down $0.73 during midday trading on Monday, hitting $28.89. The company had a trading volume of 6,758 shares, compared to its average volume of 5,782. Global Indemnity Group has a 52-week low of $24.28 and a 52-week high of $30.52. The stock has a market capitalization of $422.08 million, a P/E ratio of 12.29 and a beta of 0.41. The company has a 50 day moving average of $26.87 and a 200 day moving average of $27.33.

Global Indemnity Group (NASDAQ:GBLI) last released its earnings results on Wednesday, August 5th. The insurance provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.04). The company had revenue of $116.10 million during the quarter. Global Indemnity Group had a return on equity of 5.56% and a net margin of 7.50%. Equities research analysts forecast that Global Indemnity Group will post 2.68 EPS for the current year.

Global Indemnity Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 18th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Thursday, June 18th. Global Indemnity Group’s dividend payout ratio (DPR) is currently 59.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clearstead Advisors LLC raised its holdings in Global Indemnity Group by 190.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 954 shares during the last quarter. State of Wyoming raised its stake in shares of Global Indemnity Group by 70.5% in the second quarter. State of Wyoming now owns 4,524 shares of the insurance provider’s stock worth $142,000 after purchasing an additional 1,870 shares during the last quarter. Franklin Street Advisors Inc. NC bought a new position in shares of Global Indemnity Group during the second quarter valued at $368,000. Boston Partners lifted its holdings in shares of Global Indemnity Group by 5.0% during the third quarter. Boston Partners now owns 137,170 shares of the insurance provider’s stock valued at $3,985,000 after purchasing an additional 6,552 shares in the last quarter. Finally, Cannell Capital LLC boosted its holdings in shares of Global Indemnity Group by 1.4% during the 2nd quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider’s stock valued at $8,853,000 after acquiring an additional 3,841 shares during the last quarter. Institutional investors own 37.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Global Indemnity Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

About Global Indemnity Group

Global Indemnity Group (NASDAQ: GBLI) is a specialty property and casualty insurance holding company headquartered in Princeton, New Jersey. Through its subsidiaries, the company focuses on underwriting commercial niche insurance products designed to meet the needs of small to mid-sized businesses and select specialty markets. Its approach centers on disciplined underwriting, customized policy structures and targeted distribution channels to address coverage gaps often underserved by standard carriers.

The company’s product portfolio encompasses surety and fidelity bonds, workers’ compensation, general liability, commercial auto, professional liability and environmental liability.