Global Indemnity Group (NASDAQ:GBLI) Share Price Passes Above 200 Day Moving Average of $31.05

Global Indemnity Group, LLC (NASDAQ:GBLI)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.05 and traded as high as $31.41. Global Indemnity Group shares last traded at $31.04, with a volume of 1,491 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Global Indemnity Group in a research report on Wednesday, May 15th. They set a “buy” rating on the stock.

Global Indemnity Group Trading Up 0.9 %

The company has a market capitalization of $422.14 million, a price-to-earnings ratio of 12.52 and a beta of 0.46. The stock has a 50-day simple moving average of $31.18 and a 200-day simple moving average of $31.05.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings results on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.75. The firm had revenue of $109.26 million for the quarter, compared to analysts’ expectations of $136.00 million. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. On average, research analysts forecast that Global Indemnity Group, LLC will post 2.43 EPS for the current year.

Global Indemnity Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a dividend of $0.35 per share. This is a boost from Global Indemnity Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.40 annualized dividend and a dividend yield of 4.51%. Global Indemnity Group’s dividend payout ratio (DPR) is presently 56.45%.

Institutional Trading of Global Indemnity Group

A hedge fund recently bought a new stake in Global Indemnity Group stock. Cannell Capital LLC purchased a new stake in Global Indemnity Group, LLC (NASDAQ:GBLI) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned about 0.82% of Global Indemnity Group at the end of the most recent quarter. Institutional investors and hedge funds 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.