Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report sent to investors on Tuesday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 0.0 %

Shares of NASDAQ:GBLI opened at $34.00 on Tuesday. The stock has a market cap of $462.40 million, a PE ratio of 13.39 and a beta of 0.43. The company’s fifty day moving average is $32.77 and its 200 day moving average is $31.86. Global Indemnity Group has a 52 week low of $26.50 and a 52 week high of $36.76.

Global Indemnity Group (NASDAQ:GBLI) last issued its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.19. The company had revenue of $108.69 million for the quarter, compared to analysts’ expectations of $114.00 million. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. Sell-side analysts anticipate that Global Indemnity Group will post 2.71 EPS for the current year.

Global Indemnity Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, September 30th. Global Indemnity Group’s payout ratio is 55.12%.

Hedge Funds Weigh In On Global Indemnity Group

A number of hedge funds have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of Global Indemnity Group in the second quarter valued at about $55,000. Harbor Capital Advisors Inc. increased its position in shares of Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after acquiring an additional 19,830 shares during the period. Finally, Boston Partners purchased a new position in shares of Global Indemnity Group in the first quarter valued at about $2,488,000. Hedge funds and other institutional investors own 37.40% of the company’s stock.

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.