Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

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

Global Indemnity Group Price Performance

Shares of GBLI opened at $32.50 on Friday. The stock 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 capitalization of $441.35 million, a price-to-earnings ratio of 17.76 and a beta of 0.47. Global Indemnity Group has a 52-week low of $25.21 and a 52-week high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly earnings results on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.75. The firm had revenue of $109.26 million during the quarter, compared to the consensus estimate of $136.00 million. Global Indemnity Group had a return on equity of 4.32% and a net margin of 4.79%. On average, equities analysts anticipate that Global Indemnity Group will post 2.43 EPS for the current fiscal year.

Global Indemnity Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were paid a $0.35 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $1.40 dividend on an annualized basis and a yield of 4.31%. This is a boost from Global Indemnity Group’s previous quarterly dividend of $0.25. Global Indemnity Group’s payout ratio is currently 76.50%.

Institutional Investors 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 Global Indemnity Group, LLC (NASDAQ:GBLI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,798 shares of the insurance provider’s stock, valued at approximately $393,000. Ellsworth Advisors LLC owned about 0.09% of Global Indemnity Group at the end of the most recent quarter. 37.40% of the stock is owned by institutional investors.

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.