Global Indemnity Group (NASDAQ:GBLI) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLIFree Report) in a research note issued to investors on Saturday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Down 0.8 %

Shares of Global Indemnity Group stock opened at $32.25 on Friday. The firm’s 50 day moving average price is $29.73 and its 200-day moving average price is $31.63. Global Indemnity Group has a 52-week low of $25.21 and a 52-week high of $37.00. The company has a market cap of $437.96 million, a P/E ratio of 17.62 and a beta of 0.47.

Global Indemnity Group (NASDAQ:GBLIGet Free Report) last issued its quarterly earnings data on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.75. Global Indemnity Group had a net margin of 4.79% and a return on equity of 4.32%. The firm had revenue of $109.26 million for the quarter, compared to the consensus estimate of $136.00 million. As a group, equities research analysts forecast that Global Indemnity Group will post 2.43 EPS for the current fiscal year.

Global Indemnity Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.34%. This is an increase from Global Indemnity Group’s previous quarterly dividend of $0.25. Global Indemnity Group’s payout ratio is presently 76.50%.

Institutional Trading of Global Indemnity Group

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in shares of Global Indemnity Group by 7.1% in the 1st 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 during the period. First Republic Investment Management Inc. purchased a new stake in shares of Global Indemnity Group during the second quarter worth $259,000. RBF Capital LLC grew its holdings in shares of Global Indemnity Group by 288.1% during the first quarter. RBF Capital LLC now owns 176,387 shares of the insurance provider’s stock worth $4,963,000 after buying an additional 130,941 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Global Indemnity Group by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 312,084 shares of the insurance provider’s stock worth $8,785,000 after buying an additional 4,491 shares in the last quarter. Finally, State of Wyoming grew its holdings 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 worth $47,000 after buying an additional 420 shares in the last quarter. 37.40% of the stock is currently owned by institutional investors and hedge funds.

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, 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.

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