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

Stock analysts at StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued on Tuesday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Stock Down 0.1 %

GBLI stock opened at $33.99 on Tuesday. The company has a market cap of $462.40 million, a price-to-earnings ratio of 13.67 and a beta of 0.43. Global Indemnity Group has a twelve month low of $26.50 and a twelve month high of $36.76. The business has a 50 day moving average price of $32.64 and a two-hundred day moving average price of $31.83.

Global Indemnity Group (NASDAQ:GBLI) last released its earnings results 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. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. The business had revenue of $108.69 million during the quarter, compared to analysts’ expectations of $114.00 million. On average, equities research analysts anticipate that Global Indemnity Group will post 2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in Global Indemnity Group in the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. boosted its stake in shares of Global Indemnity Group by 223.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after acquiring an additional 19,830 shares during the period. Finally, Boston Partners acquired a new position in shares of Global Indemnity Group during the 1st quarter worth approximately $2,488,000. Institutional investors own 37.40% of the company’s stock.

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.