StockNews.com Begins Coverage on Global Indemnity Group (NASDAQ:GBLI)

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

Global Indemnity Group Stock Performance

Global Indemnity Group stock opened at $32.50 on Friday. The business’s 50-day simple moving average is $29.80 and its 200-day simple moving average is $31.61. The firm has a market capitalization of $441.32 million, a PE ratio of 17.76 and a beta of 0.47. Global Indemnity Group has a 52 week low of $25.21 and a 52 week high of $37.00.

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

Global Indemnity Group Increases Dividend

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

Hedge Funds Weigh In On Global Indemnity Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in Global Indemnity Group by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 312,084 shares of the insurance provider’s stock valued at $8,785,000 after purchasing an additional 4,491 shares in the last quarter. RBF Capital LLC boosted its holdings in Global Indemnity Group by 288.1% during the first quarter. RBF Capital LLC now owns 176,387 shares of the insurance provider’s stock valued at $4,963,000 after purchasing an additional 130,941 shares in the last quarter. Cannell Capital LLC acquired a new stake in Global Indemnity Group during the fourth quarter valued at approximately $3,562,000. Renaissance Technologies LLC boosted its holdings in Global Indemnity Group by 7.1% during the first quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider’s stock valued at $2,195,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Ellsworth Advisors LLC acquired a new stake in Global Indemnity Group during the third quarter valued at approximately $393,000. 37.40% of the stock is currently owned by institutional investors.

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.