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

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

Global Indemnity Group Stock Down 1.5 %

Shares of Global Indemnity Group stock opened at $33.50 on Monday. The business’s fifty day simple moving average is $32.31 and its 200-day simple moving average is $31.63. The firm has a market cap of $455.73 million, a PE ratio of 13.51 and a beta of 0.43. Global Indemnity Group has a 52 week low of $26.50 and a 52 week high of $36.98.

Global Indemnity Group (NASDAQ:GBLI) last posted its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $114.00 million. As a group, equities analysts expect that Global Indemnity Group will post 2.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners purchased a new stake in shares of Global Indemnity Group in the 1st quarter valued at $2,488,000. Harbor Capital Advisors Inc. grew its position in Global Indemnity Group by 223.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after acquiring an additional 19,830 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Global Indemnity Group during the second quarter worth about $55,000. 37.40% of the stock is currently owned by hedge funds and other 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.