Global Indemnity Group (NASDAQ:GBLI) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Global Indemnity Group (NASDAQ:GBLI) announced its quarterly earnings results on Wednesday. The insurance provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08), FiscalAI reports. Global Indemnity Group had a net margin of 7.50% and a return on equity of 5.56%. The business had revenue of $112.94 million for the quarter.

Global Indemnity Group Price Performance

Shares of GBLI stock traded down $0.65 on Thursday, hitting $21.39. The stock had a trading volume of 3,169 shares, compared to its average volume of 6,756. The business has a 50 day moving average of $25.81 and a 200 day moving average of $27.06. The stock has a market cap of $312.43 million, a price-to-earnings ratio of 9.10 and a beta of 0.52. Global Indemnity Group has a 12-month low of $18.27 and a 12-month high of $30.50.

Global Indemnity Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 18th were paid a $0.35 dividend. The ex-dividend date was Friday, September 18th. This represents a $1.40 annualized dividend and a dividend yield of 6.5%. Global Indemnity Group’s dividend payout ratio is presently 59.57%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Global Indemnity Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Global Indemnity Group stock. State of Wyoming increased its holdings in Global Indemnity Group, LLC (NASDAQ:GBLI) by 600.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,958 shares of the insurance provider’s stock after acquiring an additional 23,965 shares during the period. State of Wyoming owned about 0.19% of Global Indemnity Group worth $676,000 at the end of the most recent quarter. Institutional investors and hedge funds own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

Global Indemnity Group, LLC (NASDAQ: GBLI) is an insurance holding company that provides specialty property and casualty insurance and reinsurance products. Its business is focused on risks that may require specialized underwriting expertise, including commercial, professional and personal insurance exposures.

Through its operating subsidiaries, the company offers products in areas such as excess and surplus lines, commercial property and casualty coverage, specialty personal lines, and other niche insurance markets.