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

Stock analysts at StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report issued on Saturday. The firm set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

GBLI opened at $32.75 on Friday. The company has a fifty day moving average price of $31.78 and a 200-day moving average price of $31.32. The firm has a market capitalization of $445.53 million, a P/E ratio of 13.21 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) last announced its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.19. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. The company had revenue of $108.69 million during the quarter, compared to analyst estimates of $114.00 million. On average, analysts expect that Global Indemnity Group will post 2.71 earnings per share for the current year.

Hedge Funds Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently modified their holdings of GBLI. Innealta Capital LLC bought a new position in Global Indemnity Group in the second quarter worth about $55,000. Harbor Capital Advisors Inc. raised its stake in 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 worth $892,000 after buying an additional 19,830 shares in the last quarter. Boston Partners bought a new position in Global Indemnity Group in the first quarter worth about $2,488,000. Finally, Cannell Capital LLC bought a new position in Global Indemnity Group in the fourth quarter worth about $3,562,000. 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.