Global Indemnity Group (NASDAQ:GBLI) Releases Quarterly Earnings Results

Global Indemnity Group (NASDAQ:GBLI) issued its quarterly earnings results on Wednesday. The insurance provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08), FiscalAI reports. The firm had revenue of $112.94 million for the quarter. Global Indemnity Group had a return on equity of 5.56% and a net margin of 7.50%.

Global Indemnity Group Stock Up 3.4%

Shares of NASDAQ GBLI traded up $0.71 during midday trading on Wednesday, hitting $21.55. The stock had a trading volume of 28,778 shares, compared to its average volume of 6,737. The company has a market capitalization of $314.77 million, a price-to-earnings ratio of 9.17 and a beta of 0.52. Global Indemnity Group has a 1-year low of $18.27 and a 1-year high of $30.50. The company has a fifty day moving average price of $25.94 and a 200 day moving average price of $27.10.

Global Indemnity Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 18th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date was Friday, September 18th. Global Indemnity Group’s dividend payout ratio (DPR) is 59.57%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Global Indemnity Group stock. State of Wyoming boosted its stake in Global Indemnity Group, LLC (NASDAQ:GBLI) by 600.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,958 shares of the insurance provider’s stock after purchasing an additional 23,965 shares during the period. State of Wyoming owned approximately 0.19% of Global Indemnity Group worth $676,000 at the end of the most recent reporting period. 37.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Global Indemnity Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Global Indemnity Group Company Profile

Global Indemnity Group, LLC (NASDAQ: GBLI) is an insurance holding company that provides specialty property and casualty insurance and reinsurance products. Its business is focused on risks that may require specialized underwriting expertise, including commercial, professional and personal insurance exposures.

Through its operating subsidiaries, the company offers products in areas such as excess and surplus lines, commercial property and casualty coverage, specialty personal lines, and other niche insurance markets.