Global Indemnity Group, LLC (NASDAQ:GBLI) benefited from a significant drop in short interest during the month of December. As of December 31, there was short interest totaling 3,900 shares, a decrease of 62.9% from the total of 10,500 shares as of December 15. Currently, 0.1% of the stock’s shares are sold short. Based on an average trading volume of 13,700 shares, the short-term interest rate ratio is currently 0.3 days.
In other Global Indemnity Group news, Director Bruce R. Lederman purchased 2,000 shares of the company in a trade on Thursday, Dec. 9. The shares were purchased at an average price of $25.97 per share, for a total transaction of $51,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Director Joseph W. Brown purchased 10,000 shares of Global Indemnity Group in a trade dated Friday, November 12. The shares were purchased at an average price of $27.25 per share, for a total transaction of $272,500.00. Disclosure of this purchase can be found here. During the last quarter, insiders acquired 24,000 shares of the company worth $644,940. Insiders of the company hold 43.70% of the shares of the company.
A number of hedge funds have recently changed their positions in the stock. Cannell Capital LLC purchased a new stake in Global Indemnity Group in the third quarter worth approximately $853,000. Cullen Frost Bankers Inc. increased its holdings in Global Indemnity Group by 40.0% in the third quarter. Cullen Frost Bankers Inc. now owns 7,000 shares of the insurance provider valued at $191,000 after acquiring an additional 2,000 shares in the last quarter. Morgan Stanley increased its stake in Global Indemnity Group by 56.8% in the second quarter. Morgan Stanley now owns 13,893 shares of the insurance provider valued at $375,000 after acquiring 5,032 additional shares in the last quarter. Bank of America Corp DE increased its stake in Global Indemnity Group by 29,282.9% in the second quarter. Bank of America Corp DE now owns 44,662 shares of the insurance provider valued at $1,204,000 after acquiring an additional 44,510 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Global Indemnity Group by 1.2% in the second quarter. Renaissance Technologies LLC now owns 75,634 shares of the insurance provider valued at $2,038,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds hold 95.12% of the company’s shares.
Shares of NASDAQ:GBLI traded down $0.05 in Friday’s midday session, hitting $26.75. 14,618 shares were traded, against an average volume of 20,362. The company has a leverage ratio of 0.18, a quick ratio of 0.25 and a current ratio of 0.25. The company’s 50-day moving average price is $25.89 and its 200-day moving average price is $26.34. Global Indemnity Group has a 12-month low of $23.97 and a 12-month high of $31.98.
Global Indemnity Group (NASDAQ:GBLI) last released its quarterly results on Tuesday, November 9. The insurance provider reported ($0.50) earnings per share for the quarter, missing Thomson Reuters consensus estimate of $0.10 per ($0.60). Global Indemnity Group posted a negative return on equity of 1.01% and a net margin of 0.83%. The company had revenue of $166.99 million for the quarter.
The company also recently announced a quarterly dividend, which was paid on Friday, December 31. Investors of record on Monday, December 20 received a dividend of $0.25. This represents an annualized dividend of $1.00 and a yield of 3.74%. The ex-dividend date was Friday, December 17. Global Indemnity Group’s payout ratio is currently 294.13%.
About Global Indemnity Group
Global Indemnity Group LLC is committed to providing diversified insurance and reinsurance services. It operates through the following segments: Commercial Specialty; specialized property; Farm, ranch and stable; and reinsurance operations. The Commercial Specialty segment provides specialty and liability insurance products designed for product lines such as small business binding authority, real estate brokerage, vacant express and programs.
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