Global Indemnity Group, LLC (NASDAQ: GBLI – Get a rating) was the target of a sharp fall in short-term interest rates in May. As of May 31, there was short interest totaling 3,700 shares, down 76.3% from the total of 15,600 shares on May 15. About 0.1% of the stock’s shares are sold short. Based on an average daily trading volume of 11,500 shares, the days-to-cover ratio is currently 0.3 days.
A number of stock analysts have weighed in on GBLI shares. StockNews.com began covering Global Indemnity Group in a research report on Monday, June 6. They set a “hold” rating on the stock. TheStreet upgraded Global Indemnity Group from a “c” rating to a “b-” rating in a Friday, March 11 research note.
In other Global Indemnity Group news, Director Seth Gersch bought 1,000 shares of the company in a transaction that took place on Tuesday, May 17. The shares were purchased at an average cost of $26.96 per share, with a total value of $26,960.00. Following the acquisition, the director now directly owns 166,471 shares of the company, valued at approximately $4,488,058.16. The acquisition was disclosed in a legal filing with the SEC, available at this link. 43.70% of the shares are held by insiders of the company.
Institutional investors have recently been buying and selling shares of the company. Cullen Frost Bankers Inc. increased its holdings of Global Indemnity Group shares by 28.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 9,000 shares of the insurance provider worth $226,000 after purchasing an additional 2,000 shares during the period. Cannell Capital LLC purchased a new stake in shares of Global Indemnity Group during the third quarter worth approximately $853,000. Renaissance Technologies LLC increased its holdings of Global Indemnity Group shares by 7.1% during the first quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider worth $2,195,000 after purchasing an additional 5,600 shares during the period. Morgan Stanley increased its holdings of Global Indemnity Group shares by 56.8% during the second quarter. Morgan Stanley now owns 13,893 shares of the insurance provider worth $375,000 after buying an additional 5,032 shares during the period. Finally, RBF Capital LLC bought a new position in Global Indemnity Group in the first quarter worth approximately $533,000. Institutional investors hold 88.18% of the company’s shares.
NASDAQ:GBLI shares opened at $26.67 on Friday. The company has a fifty-day moving average of $26.32 and a 200-day moving average of $26.12. The company has a debt ratio of 0.19, a quick ratio of 0.40 and a current ratio of 0.40. Global Indemnity Group has a 52-week minimum of $23.97 and a 52-week maximum of $30.47. The company has a market capitalization of $387.58 million, a PE ratio of 32.52 and a beta of 0.22.
Global Indemnity Group (NASDAQ: GBLI – Get a rating) last released its quarterly results on Monday, May 9. The insurance provider reported earnings per share (EPS) of $0.36 for the quarter. Global Indemnity Group achieved a net margin of 1.39% and a return on equity of 1.80%. The company had revenue of $130.46 million in the quarter.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Monday, June 20 will receive a dividend of $0.25 per share. The ex-dividend date is Thursday, June 16. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 3.75%. Global Indemnity Group’s dividend payout ratio is currently 175.44%.
About Global Indemnity Group (Get a rating)
Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance and reinsurance products worldwide. It operates through Commercial Specialty; Farm, ranch and stable; and the reinsurance operations segments. The Commercial Specialty segment distributes property and casualty, general liability, accident and professional insurance products.
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