Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated by Analysts at began coverage on shares of Global Indemnity Group (NASDAQ:GBLIFree Report) in a report published on Wednesday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 1.8 %

Global Indemnity Group stock opened at $31.18 on Wednesday. The business has a 50 day moving average price of $31.30 and a two-hundred day moving average price of $30.72. The stock has a market cap of $424.17 million, a price-to-earnings ratio of 12.57 and a beta of 0.44. Global Indemnity Group has a 12 month low of $26.50 and a 12 month high of $37.00.

Global Indemnity Group (NASDAQ:GBLIGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.60 by $0.17. The firm had revenue of $112.29 million during the quarter, compared to analysts’ expectations of $90.00 million. Global Indemnity Group had a return on equity of 5.40% and a net margin of 6.98%. On average, analysts expect that Global Indemnity Group will post 2.55 earnings per share for the current fiscal year.

Global Indemnity Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 21st were issued a $0.35 dividend. The ex-dividend date was Friday, June 21st. This represents a $1.40 annualized dividend and a yield of 4.49%. Global Indemnity Group’s dividend payout ratio (DPR) is 56.45%.

Hedge Funds Weigh In On Global Indemnity Group

Several large investors have recently added to or reduced their stakes in GBLI. Harbor Capital Advisors Inc. grew its stake in shares of Global Indemnity Group by 223.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after purchasing an additional 19,830 shares during the period. Boston Partners bought a new stake in shares of Global Indemnity Group in the 1st quarter valued at approximately $2,488,000. Finally, Cannell Capital LLC bought a new stake in shares of Global Indemnity Group in the 4th quarter valued at approximately $3,562,000. Institutional investors and hedge funds own 37.40% of the company’s stock.

About Global Indemnity Group

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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.

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