Global Indemnity Group (NASDAQ:GBLI) Research Coverage Started at StockNews.com

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

Global Indemnity Group Price Performance

NASDAQ GBLI opened at $34.00 on Tuesday. The company has a market capitalization of $462.54 million, a P/E ratio of 13.71 and a beta of 0.43. Global Indemnity Group has a 12 month low of $26.50 and a 12 month high of $36.76. The company’s 50 day simple moving average is $32.51 and its 200 day simple moving average is $31.77.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.19. The company 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 anticipate that Global Indemnity Group will post 2.71 earnings per share for the current year.

Institutional Trading of Global Indemnity Group

A number of hedge funds have recently bought and sold shares of GBLI. Innealta Capital LLC acquired a new stake in shares of Global Indemnity Group during the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. lifted its stake 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 worth $892,000 after acquiring an additional 19,830 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Global Indemnity Group in the 1st quarter valued at about $2,488,000. 37.40% of the stock is 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.