Global Indemnity Group (NASDAQ:GBLI) Receives New Coverage from Analysts at StockNews.com

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

Global Indemnity Group Stock Performance

Shares of NASDAQ GBLI opened at $32.50 on Friday. The stock has a fifty day moving average price of $29.97 and a two-hundred day moving average price of $31.60. The firm has a market cap of $441.32 million, a P/E ratio of 17.76 and a beta of 0.47. Global Indemnity Group has a 1 year low of $25.21 and a 1 year high of $37.00.

Global Indemnity Group (NASDAQ:GBLI) last announced its quarterly earnings data on Wednesday, March 13th. The insurance provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.75. Global Indemnity Group had a return on equity of 4.32% and a net margin of 4.79%. The company had revenue of $109.26 million during the quarter, compared to the consensus estimate of $136.00 million. On average, research analysts predict that Global Indemnity Group will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Indemnity Group

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming lifted its position in shares of Global Indemnity Group by 42.9% during the 2nd quarter. State of Wyoming now owns 1,400 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 420 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Global Indemnity Group in the second quarter valued at $259,000. Renaissance Technologies LLC lifted its holdings in shares of Global Indemnity Group by 36.5% in the second quarter. Renaissance Technologies LLC now owns 11,214 shares of the insurance provider’s stock valued at $377,000 after purchasing an additional 3,000 shares in the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of Global Indemnity Group in the third quarter valued at $393,000. Finally, Cannell Capital LLC purchased a new stake in shares of Global Indemnity Group in the fourth quarter valued at $3,562,000. 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.