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

Research analysts at StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a note issued to investors on Thursday. The firm set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Trading Down 0.3 %

Shares of NASDAQ GBLI opened at $33.00 on Thursday. The stock has a market capitalization of $448.93 million, a PE ratio of 13.31 and a beta of 0.43. The stock’s fifty day simple moving average is $31.43 and its two-hundred day simple moving average is $31.13. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.19. The business had revenue of $108.69 million for the quarter, compared to analysts’ expectations of $114.00 million. Global Indemnity Group had a return on equity of 5.79% and a net margin of 7.66%. On average, equities analysts predict that Global Indemnity Group will post 2.71 earnings per share for the current fiscal year.

Institutional Trading of Global Indemnity Group

Institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its position 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 worth $892,000 after purchasing an additional 19,830 shares in the last quarter. Boston Partners acquired a new stake in shares of Global Indemnity Group in the 1st quarter worth $2,488,000. Innealta Capital LLC acquired a new stake in shares of Global Indemnity Group in the 2nd quarter worth $55,000. Finally, Cannell Capital LLC acquired a new stake in shares of Global Indemnity Group in the 4th quarter worth $3,562,000. 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.