Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLIGet Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

Shares of GBLI opened at $32.55 on Wednesday. The firm has a market cap of $442.03 million, a P/E ratio of 13.13 and a beta of 0.46. Global Indemnity Group has a 1 year low of $25.21 and a 1 year high of $37.00. The company has a 50 day simple moving average of $31.01 and a two-hundred day simple moving average of $31.18.

Global Indemnity Group (NASDAQ:GBLIGet Free Report) last issued its earnings results on Wednesday, March 13th. The insurance provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.75. The firm had revenue of $109.26 million during the quarter, compared to analyst estimates of $136.00 million. Global Indemnity Group had a net margin of 6.98% and a return on equity of 5.40%. On average, sell-side analysts anticipate that Global Indemnity Group will post 2.43 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Global Indemnity Group stock. Cannell Capital LLC purchased a new stake in shares of Global Indemnity Group, LLC (NASDAQ:GBLIFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 110,486 shares of the insurance provider’s stock, valued at approximately $3,562,000. Cannell Capital LLC owned approximately 0.82% of Global Indemnity Group as of its most recent SEC filing. 37.40% of the stock is currently owned by hedge funds and other institutional investors.

About Global Indemnity Group

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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.

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