Global Indemnity Group (NASDAQ:GBLI) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report issued on Wednesday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Trading Down 3.9 %

GBLI stock opened at $31.22 on Wednesday. Global Indemnity Group has a 1-year low of $26.50 and a 1-year high of $37.00. The firm has a market cap of $424.59 million, a PE ratio of 12.59 and a beta of 0.43. The business’s 50-day moving average price is $31.18 and its two-hundred day moving average price is $30.95.

Global Indemnity Group (NASDAQ:GBLI) last released its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share 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, analysts forecast that Global Indemnity Group will post 2.71 earnings per share for the current year.

Institutional Trading of Global Indemnity Group

A number of institutional investors have recently modified their holdings of GBLI. Cannell Capital LLC acquired a new stake in Global Indemnity Group in the 4th quarter valued at approximately $3,562,000. Boston Partners bought a new position 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% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after purchasing an additional 19,830 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Global Indemnity Group in the second quarter worth $55,000. 37.40% of the stock is currently owned by institutional investors.

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.