Short-term stake in Global Indemnity Group, LLC (NASDAQ:GBLI) decreases 76.3%

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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.

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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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