BidaskClub Lowers Global Indemnity (NASDAQ:GBLI) to Sell

BidaskClub cut shares of Global Indemnity (NASDAQ:GBLI) from a hold rating to a sell rating in a research note published on Friday morning, BidAskClub reports.

Shares of Global Indemnity stock opened at $26.74 on Friday. The firm’s 50-day moving average price is $29.57. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.45. Global Indemnity has a twelve month low of $26.01 and a twelve month high of $41.79.

Global Indemnity (NASDAQ:GBLI) last released its quarterly earnings results on Friday, May 3rd. The insurance provider reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $1.02. The company 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 declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $1.00 annualized dividend and a yield of 3.74%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its stake in Global Indemnity by 658.2% in the first quarter. BNP Paribas Arbitrage SA now owns 1,759 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 1,527 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Global Indemnity by 37.7% during the fourth quarter. Rhumbline Advisers now owns 13,449 shares of the insurance provider’s stock valued at $487,000 after acquiring an additional 3,681 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Global Indemnity by 83.9% during the fourth quarter. Bank of America Corp DE now owns 15,360 shares of the insurance provider’s stock valued at $557,000 after acquiring an additional 7,008 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Global Indemnity by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 87,944 shares of the insurance provider’s stock valued at $3,186,000 after acquiring an additional 3,961 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Global Indemnity by 1.9% during the first quarter. Boston Partners now owns 345,157 shares of the insurance provider’s stock valued at $10,486,000 after acquiring an additional 6,374 shares in the last quarter. Institutional investors own 56.09% of the company’s stock.

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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