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

Global Indemnity Group, LLC (NASDAQ:GBLI) announced a quarterly dividend on Friday, December 6th,Wall Street Journal reports. Investors of record on Tuesday, December 24th will be given a dividend of 0.35 per share by the insurance provider on Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Tuesday, December 24th.

Global Indemnity Group has a dividend payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

NASDAQ GBLI traded up $0.31 on Friday, hitting $36.00. The stock had a trading volume of 9,221 shares, compared to its average volume of 4,307. The business’s fifty day moving average price is $34.36 and its 200 day moving average price is $32.42. The stock has a market cap of $492.84 million, a price-to-earnings ratio of 12.21 and a beta of 0.42. Global Indemnity Group has a 52-week low of $26.50 and a 52-week high of $37.00.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Global Indemnity Group in a research note on Sunday, December 1st. They set a “buy” rating on the stock.

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.