Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report published on Saturday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 0.8 %

Shares of NASDAQ GBLI opened at $32.50 on Friday. Global Indemnity Group has a twelve month low of $25.21 and a twelve month high of $37.00. The firm has a fifty day simple moving average of $29.80 and a 200 day simple moving average of $31.61. The company has a market capitalization of $441.32 million, a PE ratio of 17.76 and a beta of 0.47.

Global Indemnity Group (NASDAQ:GBLI) last announced its earnings results on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share 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 business had revenue of $109.26 million during the quarter, compared to the consensus estimate of $136.00 million. As a group, equities analysts expect that Global Indemnity Group will post 2.43 earnings per share for the current fiscal year.

Global Indemnity Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were paid a $0.35 dividend. This is an increase from Global Indemnity Group’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, March 20th. Global Indemnity Group’s payout ratio is 76.50%.

Institutional Investors Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ellsworth Advisors LLC bought a new stake in Global Indemnity Group in the third quarter valued at $393,000. Ameriprise Financial Inc. increased its stake in Global Indemnity Group by 4.0% in the third quarter. Ameriprise Financial Inc. now owns 288,239 shares of the insurance provider’s stock valued at $9,901,000 after purchasing an additional 11,055 shares in the last quarter. RBF Capital LLC increased its stake 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 purchasing an additional 130,941 shares in the last quarter. Renaissance Technologies LLC increased its stake in Global Indemnity Group by 7.1% in the first 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 in the last quarter. Finally, First Republic Investment Management Inc. bought a new stake in shares of Global Indemnity Group during the second quarter worth about $259,000. 37.40% of the stock is owned by institutional investors.

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.