Global Indemnity (NASDAQ:GBLI) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Global Indemnity (NASDAQ:GBLI) from a hold rating to a sell rating in a report published on Saturday, BidAskClub reports.

Shares of NASDAQ:GBLI opened at $28.49 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.26 and a quick ratio of 0.26. Global Indemnity has a 12-month low of $26.01 and a 12-month high of $42.00. The stock’s fifty day moving average is $30.30.

Global Indemnity (NASDAQ:GBLI) last announced its earnings results on Friday, May 3rd. The insurance provider reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $1.02. The business had revenue of $140.19 million during the quarter. Global Indemnity had a negative return on equity of 3.44% and a negative net margin of 8.24%.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.51%. The ex-dividend date is Thursday, June 20th.

A number of large investors have recently made changes to their positions in GBLI. BlackRock Inc. raised its position in Global Indemnity by 2.3% during the 4th quarter. BlackRock Inc. now owns 691,910 shares of the insurance provider’s stock worth $25,069,000 after purchasing an additional 15,523 shares during the last quarter. Boston Partners raised its position in Global Indemnity by 2.8% during the 4th quarter. Boston Partners now owns 338,783 shares of the insurance provider’s stock worth $12,274,000 after purchasing an additional 9,348 shares during the last quarter. Bank of America Corp DE raised its position in Global Indemnity by 83.9% during the 4th quarter. Bank of America Corp DE now owns 15,360 shares of the insurance provider’s stock worth $557,000 after purchasing an additional 7,008 shares during the last quarter. Geode Capital Management LLC raised its position in Global Indemnity by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 87,944 shares of the insurance provider’s stock worth $3,186,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Global Indemnity by 37.7% during the 4th quarter. Rhumbline Advisers now owns 13,449 shares of the insurance provider’s stock worth $487,000 after purchasing an additional 3,681 shares during the last quarter. 56.09% of the stock is owned by institutional investors and hedge funds.

About Global Indemnity

Global Indemnity Limited, through its subsidiaries, provides insurance and reinsurance products and services in the United States and internationally. The company operates through three segments: Commercial Lines, Personal Lines, and Reinsurance Operations. The Commercial Lines segment distributes property, general liability, casualty, and professional lines products, as well as products for vacant, and under construction and renovation dwellings.

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