Global Indemnity Group, LLC (NASDAQ:GBLI) Announces Dividend Increase – $0.35 Per Share

Global Indemnity Group, LLC (NASDAQ:GBLIGet Free Report) declared a quarterly dividend on Thursday, March 7th, Wall Street Journal reports. Stockholders of record on Thursday, March 21st will be given a dividend of 0.35 per share by the insurance provider on Thursday, March 28th. This represents a $1.40 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Wednesday, March 20th. This is a positive change from Global Indemnity Group’s previous quarterly dividend of $0.25.

Global Indemnity Group has a dividend payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Global Indemnity Group to earn $2.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 33.6%.

Global Indemnity Group Stock Up 0.8 %

NASDAQ GBLI opened at $29.78 on Friday. The firm has a market cap of $403.22 million, a P/E ratio of 25.46 and a beta of 0.46. The company’s 50 day moving average is $30.03 and its 200-day moving average is $32.52. Global Indemnity Group has a 12-month low of $25.21 and a 12-month high of $37.00.

Institutional Investors Weigh In On Global Indemnity Group

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its stake in shares of Global Indemnity Group by 4.0% in the third quarter. Ameriprise Financial Inc. now owns 288,239 shares of the insurance provider’s stock worth $9,901,000 after buying an additional 11,055 shares during the period. State of Wyoming increased its stake in shares of Global Indemnity Group by 42.9% during the second quarter. State of Wyoming now owns 1,400 shares of the insurance provider’s stock valued at $47,000 after buying an additional 420 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Global Indemnity Group by 36.5% during the second quarter. Renaissance Technologies LLC now owns 11,214 shares of the insurance provider’s stock valued at $377,000 after acquiring an additional 3,000 shares in the last quarter. RBF Capital LLC boosted its holdings in Global Indemnity Group by 288.1% in the first quarter. RBF Capital LLC now owns 176,387 shares of the insurance provider’s stock valued at $4,963,000 after acquiring an additional 130,941 shares in the last quarter. Finally, First Republic Investment Management Inc. bought a new position in Global Indemnity Group in the second quarter worth about $259,000. 37.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Global Indemnity Group in a report on Sunday, March 3rd. They set a “buy” rating on the stock.

Read Our Latest Stock Analysis on Global Indemnity Group

About Global Indemnity Group

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Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products worldwide. It operates in two segments, Commercial Specialty and Reinsurance Operations. The Commercial Specialty segment distributes property and casualty insurance products; and general liability products for small commercial businesses through a network of wholesale general agents.

See Also

Dividend History for Global Indemnity Group (NASDAQ:GBLI)

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