StockNews.com Begins Coverage on Global Indemnity Group (NASDAQ:GBLI)

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

Global Indemnity Group Stock Up 1.9 %

Shares of Global Indemnity Group stock opened at $31.99 on Monday. Global Indemnity Group has a 52 week low of $25.21 and a 52 week high of $37.00. The firm has a market capitalization of $434.42 million, a P/E ratio of 17.48 and a beta of 0.47. The company has a 50 day moving average price of $30.43 and a 200 day moving average price of $31.40.

Global Indemnity Group (NASDAQ:GBLI) last issued its earnings results 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. The company had revenue of $109.26 million during the quarter, compared to analyst estimates of $136.00 million. Global Indemnity Group had a return on equity of 4.32% and a net margin of 4.79%. As a group, research analysts anticipate that Global Indemnity Group will post 2.43 earnings per share for the current fiscal year.

Global Indemnity Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.38%. This is a boost from Global Indemnity Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, March 20th. Global Indemnity Group’s payout ratio is presently 76.50%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Global Indemnity Group stock. Cannell Capital LLC purchased a new position in shares of Global Indemnity Group, LLC (NASDAQ:GBLI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned 0.82% of Global Indemnity Group as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 37.40% of the company’s stock.

About Global Indemnity Group

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.