StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Free Report) in a research report released on Wednesday morning. The brokerage issued a buy rating on the insurance provider's stock.
Global Indemnity Group Trading Down 0.1 %
Shares of NASDAQ:GBLI traded down $0.05 on Wednesday, hitting $33.91. The company had a trading volume of 714 shares, compared to its average volume of 4,212. The stock has a market cap of $461.31 million, a price-to-earnings ratio of 13.35 and a beta of 0.43. The stock has a 50 day moving average price of $32.92 and a 200 day moving average price of $31.88. Global Indemnity Group has a 1-year low of $26.50 and a 1-year high of $35.19.
Global Indemnity Group (NASDAQ:GBLI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.19. The business had revenue of $108.69 million for the quarter, compared to analyst estimates of $114.00 million. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. Sell-side analysts anticipate that Global Indemnity Group will post 2.71 earnings per share for the current fiscal year.
Global Indemnity Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.35 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 4.13%. Global Indemnity Group's dividend payout ratio (DPR) is presently 55.12%.
Hedge Funds Weigh In On Global Indemnity Group
Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of Global Indemnity Group during the second quarter worth approximately $55,000. Harbor Capital Advisors Inc. raised its holdings in 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 acquiring an additional 19,830 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Global Indemnity Group during the 1st quarter valued at $2,488,000. 37.40% of the stock is owned by institutional investors.
Global Indemnity Group Company Profile
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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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