Global Indemnity Group (NASDAQ:GBLI) Now Covered by StockNews.com

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

Global Indemnity Group Price Performance

GBLI opened at $31.84 on Thursday. The business has a fifty day moving average price of $31.20 and a 200 day moving average price of $30.98. Global Indemnity Group has a 12 month low of $25.74 and a 12 month high of $37.00. The stock has a market capitalization of $433.02 million, a price-to-earnings ratio of 12.84 and a beta of 0.46.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly earnings data on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.75. Global Indemnity Group had a return on equity of 5.40% and a net margin of 6.98%. The business had revenue of $109.26 million during the quarter, compared to analysts’ expectations of $136.00 million. On average, research analysts anticipate that Global Indemnity Group will post 2.43 earnings per share for the current year.

Global Indemnity Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a dividend of $0.35 per share. This is a boost from Global Indemnity Group’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Wednesday, March 20th. Global Indemnity Group’s payout ratio is 56.45%.

Hedge Funds Weigh In On Global Indemnity Group

An institutional investor recently bought a new position in Global Indemnity Group stock. Cannell Capital LLC acquired a new position in shares of Global Indemnity Group, LLC (NASDAQ:GBLI) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned approximately 0.82% of Global Indemnity Group as of its most recent filing with the SEC. Institutional investors and hedge funds own 37.40% of the company’s stock.

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.