Global Indemnity Group (NASDAQ:GBLI) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Global Indemnity Group, LLC (NASDAQ:GBLI)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.32 and traded as high as $28.70. Global Indemnity Group shares last traded at $28.60, with a volume of 7,754 shares changing hands.

Analysts Set New Price Targets

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

Global Indemnity Group Price Performance

The stock has a market capitalization of $419.94 million, a price-to-earnings ratio of 12.23 and a beta of 0.41. The firm’s fifty day moving average is $26.72 and its 200-day moving average is $27.33.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.04). Global Indemnity Group had a return on equity of 5.56% and a net margin of 7.50%.The company had revenue of $116.10 million for the quarter. On average, sell-side analysts expect that Global Indemnity Group, LLC will post 2.68 EPS for the current year.

Global Indemnity Group Announces Dividend

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. The ex-dividend date was Thursday, June 18th. This represents a $1.40 annualized dividend and a yield of 4.9%. Global Indemnity Group’s dividend payout ratio is presently 59.57%.

Institutional Investors Weigh In On Global Indemnity Group

A number of institutional investors have recently made changes to their positions in the company. Clearstead Advisors LLC increased its stake in Global Indemnity Group by 190.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 954 shares during the last quarter. State of Wyoming boosted its holdings in shares of Global Indemnity Group by 23.8% in the 4th quarter. State of Wyoming now owns 4,898 shares of the insurance provider’s stock valued at $139,000 after buying an additional 942 shares during the period. Franklin Street Advisors Inc. NC acquired a new position in shares of Global Indemnity Group in the 2nd quarter valued at about $368,000. Boston Partners grew 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 during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Global Indemnity Group by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 299,626 shares of the insurance provider’s stock valued at $8,704,000 after purchasing an additional 1,191 shares during the last quarter. 37.40% of the stock is currently owned by institutional investors.

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.