Global Indemnity Group (NASDAQ:GBLI) Stock Passes Above 200 Day Moving Average – Here’s Why

Global Indemnity Group, LLC (NASDAQ:GBLI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.77 and traded as high as $34.00. Global Indemnity Group shares last traded at $34.00, with a volume of 1,700 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Global Indemnity Group in a research note on Tuesday. They issued a “buy” rating on the stock.

Global Indemnity Group Stock Down 0.6 %

The firm has a 50 day moving average price of $32.51 and a 200 day moving average price of $31.77. The stock has a market cap of $462.54 million, a PE ratio of 13.71 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last posted its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.19. Global Indemnity Group had a return on equity of 5.79% and a net margin of 7.66%. The company had revenue of $108.69 million during the quarter, compared to analyst estimates of $114.00 million. Equities analysts forecast that Global Indemnity Group, LLC will post 2.71 earnings per share for the current year.

Global Indemnity Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 4.12%. Global Indemnity Group’s dividend payout ratio (DPR) is 56.45%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in Global Indemnity Group in the 2nd quarter worth approximately $55,000. Harbor Capital Advisors Inc. grew its position in 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 purchasing an additional 19,830 shares during the period. Finally, Boston Partners acquired a new stake in Global Indemnity Group during the first quarter worth about $2,488,000. 37.40% of the stock is owned by institutional investors and hedge funds.

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.