Analysts at StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Get Free Report) in a research report issued on Thursday. The firm set a "buy" rating on the insurance provider's stock.
Global Indemnity Group Stock Up 0.3 %
Shares of Global Indemnity Group stock traded up $0.10 during trading hours on Thursday, reaching $34.60. 5,628 shares of the stock traded hands, compared to its average volume of 4,139. The company has a 50 day moving average price of $33.17 and a 200 day moving average price of $31.95. The firm has a market capitalization of $470.70 million, a price-to-earnings ratio of 13.58 and a beta of 0.43. Global Indemnity Group has a one year low of $26.50 and a one year high of $37.00.
Global Indemnity Group (NASDAQ:GBLI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.19. The company had revenue of $108.69 million during the quarter, compared to the consensus estimate of $114.00 million. Global Indemnity Group had a return on equity of 5.79% and a net margin of 7.66%. Sell-side analysts anticipate that Global Indemnity Group will post 2.71 earnings per share for the current year.
Institutional Trading of Global Indemnity Group
Several hedge funds have recently modified their holdings of the company. Boston Partners purchased a new stake in shares of Global Indemnity Group during the 1st quarter worth approximately $2,488,000. Harbor Capital Advisors Inc. raised its holdings in shares of Global Indemnity Group by 223.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider's stock worth $892,000 after acquiring an additional 19,830 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Global Indemnity Group during the 2nd quarter worth approximately $55,000. 37.40% of the stock is owned by hedge funds and other institutional investors.
About Global Indemnity Group
(
Get Free Report)
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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