Global Indemnity Group (NASDAQ:GBLI) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Global Indemnity Group, LLC (NASDAQ:GBLI)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.41 and traded as high as $30.25. Global Indemnity Group shares last traded at $28.52, with a volume of 3,758 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Global Indemnity Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Global Indemnity Group currently has a consensus rating of “Hold”.

Global Indemnity Group Stock Up 6.5%

The firm’s 50-day moving average price is $27.58 and its 200 day moving average price is $27.40. The firm has a market cap of $431.00 million, a P/E ratio of 12.55 and a beta of 0.42.

Global Indemnity Group (NASDAQ:GBLI) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.04). Global Indemnity Group had a net margin of 7.50% and a return on equity of 5.56%. The firm had revenue of $116.10 million during the quarter. On average, equities analysts predict that Global Indemnity Group, LLC will post 2.68 earnings per share for the current year.

Global Indemnity Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, September 18th. Global Indemnity Group’s payout ratio is 59.57%.

Hedge Funds Weigh In On Global Indemnity Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Street Advisors Inc. NC acquired a new stake in Global Indemnity Group in the 2nd quarter valued at approximately $368,000. State of Wyoming boosted its position in Global Indemnity Group by 22.4% during the 1st quarter. State of Wyoming now owns 5,993 shares of the insurance provider’s stock worth $163,000 after acquiring an additional 1,095 shares during the period. Boston Partners grew its stake in shares of Global Indemnity Group by 9.6% in the fourth quarter. Boston Partners now owns 150,351 shares of the insurance provider’s stock worth $4,270,000 after purchasing an additional 13,181 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of Global Indemnity Group by 190.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 954 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Global Indemnity Group by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 299,626 shares of the insurance provider’s stock valued at $8,704,000 after purchasing an additional 1,191 shares during the period. 37.40% of the stock is owned by institutional investors.

Global Indemnity Group Company Profile

Global Indemnity Group (NASDAQ: GBLI) is a specialty property and casualty insurance holding company headquartered in Princeton, New Jersey. Through its subsidiaries, the company focuses on underwriting commercial niche insurance products designed to meet the needs of small to mid-sized businesses and select specialty markets. Its approach centers on disciplined underwriting, customized policy structures and targeted distribution channels to address coverage gaps often underserved by standard carriers.

The company’s product portfolio encompasses surety and fidelity bonds, workers’ compensation, general liability, commercial auto, professional liability and environmental liability.