Global Indemnity (GBLI) Cut to Hold at BidaskClub

BidaskClub lowered shares of Global Indemnity (NASDAQ:GBLI) from a buy rating to a hold rating in a report published on Friday.

GBLI opened at $34.79 on Friday. The stock has a market cap of $507.73 million, a P/E ratio of 30.25 and a beta of 0.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.25 and a quick ratio of 0.25. Global Indemnity has a fifty-two week low of $31.78 and a fifty-two week high of $43.49.

Global Indemnity (NASDAQ:GBLI) last posted its quarterly earnings results on Wednesday, November 7th. The insurance provider reported ($0.03) earnings per share for the quarter. The company had revenue of $138.01 million for the quarter. Global Indemnity had a negative net margin of 1.25% and a positive return on equity of 2.21%.

The business also recently declared a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Monday, December 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 21st. This represents a $1.00 annualized dividend and a yield of 2.87%.

In related news, Director James D. Wehr purchased 3,000 shares of Global Indemnity stock in a transaction that occurred on Monday, November 26th. The stock was bought at an average price of $34.14 per share, for a total transaction of $102,420.00. Following the completion of the transaction, the director now owns 3,040 shares in the company, valued at $103,785.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 41.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of GBLI. First Trust Advisors LP boosted its position in Global Indemnity by 18.3% during the second quarter. First Trust Advisors LP now owns 8,221 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 1,273 shares during the period. Citadel Advisors LLC bought a new position in Global Indemnity during the third quarter worth about $326,000. Teachers Advisors LLC lifted its holdings in shares of Global Indemnity by 3.5% in the third quarter. Teachers Advisors LLC now owns 15,176 shares of the insurance provider’s stock worth $572,000 after buying an additional 510 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Global Indemnity by 7.6% in the second quarter. Renaissance Technologies LLC now owns 117,664 shares of the insurance provider’s stock worth $4,587,000 after buying an additional 8,300 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Global Indemnity by 1.1% in the third quarter. BlackRock Inc. now owns 676,387 shares of the insurance provider’s stock worth $25,499,000 after buying an additional 7,422 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

About Global Indemnity

Global Indemnity Limited, through its subsidiaries, provides insurance and reinsurance products and services in the United States and internationally. The company operates through three segments: Commercial Lines, Personal Lines, and Reinsurance Operations. The Commercial Lines segment distributes property, general liability, casualty, and professional lines products, as well as products for vacant, and under construction and renovation dwellings.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

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