Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated by Analysts at StockNews.com

Posted by on Jun 8th, 2023

Research analysts at StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Get Rating) in a note issued to investors on Thursday. The firm set a “buy” rating on the insurance provider’s stock.

Separately, TheStreet upgraded Global Indemnity Group from a “c+” rating to a “b+” rating in a report on Wednesday, May 31st.

Global Indemnity Group Stock Performance

GBLI stock opened at $27.84 on Thursday. The firm has a 50 day simple moving average of $27.74 and a 200 day simple moving average of $27.13. Global Indemnity Group has a 52 week low of $20.52 and a 52 week high of $30.72. The stock has a market cap of $379.74 million, a P/E ratio of 25.78 and a beta of 0.36.

Global Indemnity Group (NASDAQ:GBLI – Get Rating) last posted its quarterly earnings results on Thursday, March 9th. The insurance provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.13). Global Indemnity Group had a net margin of 2.53% and a return on equity of 2.78%. The company had revenue of $155.64 million for the quarter, compared to analysts’ expectations of $155.00 million. Sell-side analysts predict that Global Indemnity Group will post 2.35 EPS for the current year.

Institutional Trading of Global Indemnity Group

Several large investors have recently made changes to their positions in the stock. Berkley W R Corp lifted its holdings in Global Indemnity Group by 1.5% in the 4th quarter. Berkley W R Corp now owns 919,661 shares of the insurance provider’s stock worth $21,437,000 after purchasing an additional 13,527 shares during the last quarter. Springhouse Capital Management LP lifted its stake in shares of Global Indemnity Group by 48.6% in the first quarter. Springhouse Capital Management LP now owns 359,481 shares of the insurance provider’s stock worth $10,119,000 after buying an additional 117,610 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Global Indemnity Group by 1.5% in the first quarter. Ameriprise Financial Inc. now owns 312,084 shares of the insurance provider’s stock worth $8,785,000 after buying an additional 4,491 shares during the last quarter. RBF Capital LLC boosted its holdings in shares of Global Indemnity Group by 288.1% during the 1st quarter. RBF Capital LLC now owns 176,387 shares of the insurance provider’s stock worth $4,963,000 after buying an additional 130,941 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Global Indemnity Group by 7.1% in the 1st quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider’s stock valued at $2,195,000 after buying an additional 5,600 shares during the last quarter. Institutional investors own 45.83% of the company’s stock.

About Global Indemnity Group

(Get Rating)

Global Indemnity Group LLC engages in providing diversified insurance and reinsurance services. It operates through the following segments: Commercial Specialty, Reinsurance Operations, and Exited Lines. The Commercial Specialty segment provides specialty and casualty products designed for product lines such as small business binding authority, property brokerage, vacant express and programs.

Read More

Receive News & Ratings for Global Indemnity Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Indemnity Group and related companies with MarketBeat.com's FREE daily email newsletter.