Global Indemnity Group (NASDAQ:GBLI) Stock Price Crosses Above Two Hundred Day Moving Average of $30.66

Global Indemnity Group, LLC (NASDAQ:GBLI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.66 and traded as high as $31.64. Global Indemnity Group shares last traded at $30.63, with a volume of 539 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Global Indemnity Group in a research report on Tuesday. They issued a “buy” rating on the stock.

Global Indemnity Group Stock Down 1.5 %

The company’s 50-day moving average is $31.39 and its 200 day moving average is $30.66. The company has a market cap of $416.69 million, a price-to-earnings ratio of 12.35 and a beta of 0.45.

Global Indemnity Group (NASDAQ:GBLI) last posted its earnings results on Wednesday, May 8th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.17. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. The business had revenue of $112.29 million for the quarter, compared to analyst estimates of $90.00 million. Analysts predict that Global Indemnity Group, LLC will post 2.55 EPS for the current fiscal year.

Global Indemnity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, June 21st. Global Indemnity Group’s dividend payout ratio (DPR) is presently 56.45%.

Hedge Funds Weigh In On Global Indemnity Group

An institutional investor recently bought a new position in Global Indemnity Group stock. Cannell Capital LLC bought a new position in shares of Global Indemnity Group, LLC (NASDAQ:GBLI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned about 0.82% of Global Indemnity Group as of its most recent SEC filing. Institutional investors and hedge funds own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

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.