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

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

Global Indemnity Group Trading Down 3.5 %

Shares of NASDAQ:GBLI opened at $31.36 on Friday. Global Indemnity Group has a 12 month low of $25.21 and a 12 month high of $37.00. The company has a 50-day moving average price of $30.10 and a 200 day moving average price of $31.56. The company has a market cap of $425.87 million, a price-to-earnings ratio of 17.14 and a beta of 0.47.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings data 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 company had revenue of $109.26 million for the quarter, compared to analyst estimates of $136.00 million. As a group, equities analysts forecast that Global Indemnity Group will post 2.43 EPS for the current year.

Global Indemnity Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from Global Indemnity Group’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.46%. Global Indemnity Group’s dividend payout ratio (DPR) is 76.50%.

Hedge Funds Weigh In On Global Indemnity Group

A hedge fund recently bought a new stake in Global Indemnity Group stock. Ellsworth Advisors LLC acquired a new stake in shares of Global Indemnity Group, LLC (NASDAQ:GBLI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,798 shares of the insurance provider’s stock, valued at approximately $393,000. Ellsworth Advisors LLC owned 0.09% of Global Indemnity Group as of its most recent SEC filing. 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.