Global Indemnity Group, LLC Announces Quarterly Dividend of $0.35 (NASDAQ:GBLI)

Global Indemnity Group, LLC (NASDAQ:GBLI) declared a quarterly dividend on Thursday, June 5th, RTT News reports. Investors of record on Friday, June 20th will be given a dividend of 0.35 per share by the insurance provider on Friday, June 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.48%.

Global Indemnity Group has raised its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 1 years. Global Indemnity Group has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Global Indemnity Group to earn $3.48 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 40.2%.

Global Indemnity Group Trading Up 0.2%

Shares of GBLI stock opened at $31.27 on Friday. Global Indemnity Group has a 1 year low of $26.94 and a 1 year high of $37.00. The firm’s 50 day moving average is $30.06 and its 200-day moving average is $33.64. The firm has a market capitalization of $445.86 million, a price-to-earnings ratio of 10.75 and a beta of 0.39.

Insider Buying and Selling

In other Global Indemnity Group news, Director Saul A. Fox purchased 10,000 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was bought at an average cost of $31.79 per share, with a total value of $317,900.00. Following the purchase, the director now directly owns 1,828,685 shares of the company’s stock, valued at $58,133,896.15. The trade was a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph W. Brown acquired 5,000 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $28.45 per share, for a total transaction of $142,250.00. Following the completion of the acquisition, the insider now directly owns 162,404 shares of the company’s stock, valued at $4,620,393.80. The trade was a 3.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 50,300 shares of company stock valued at $1,525,800. 52.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on Global Indemnity Group in a research report on Sunday, May 18th. They set a “buy” rating for the company.

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.