Global Indemnity Group, LLC (NASDAQ:GBLI) to Issue $0.35 Quarterly Dividend

Key Points

• Global Indemnity Group declared a quarterly dividend of $0.35 per share, payable September 30 to shareholders of record on September 18. The dividend implies a 5.1% annualized yield and a $1.40 annual payout.
• The dividend appears adequately covered, with a current payout ratio of 39.3%; analysts expect next year’s earnings to support an estimated 45.0% payout ratio.
• GBLI shares opened at $27.69, down 2.9%, with a market capitalization of approximately $404.6 million. The company’s latest quarterly earnings of $0.59 per share missed the $0.63 consensus estimate.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) announced a quarterly dividend on Wednesday, September 9th. Shareholders of record on Friday, September 18th will be paid a dividend of 0.35 per share by the insurance provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, September 18th.

Global Indemnity Group has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Global Indemnity Group has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Global Indemnity Group to earn $3.11 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 45.0%.

Global Indemnity Group Trading Down 2.9%

GBLI opened at $27.69 on Thursday. Global Indemnity Group has a 12-month low of $24.28 and a 12-month high of $30.50. The business's fifty day simple moving average is $27.58 and its 200-day simple moving average is $27.40. The company has a market capitalization of $404.55 million, a price-to-earnings ratio of 11.78 and a beta of 0.42.

Global Indemnity Group (NASDAQ:GBLI - Get Free Report) last released 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 research analysts predict that Global Indemnity Group will post 2.68 EPS for the current year.

Institutional Investors Weigh In On Global Indemnity Group

A number of institutional investors have recently added to or reduced their stakes in GBLI. Ameriprise Financial Inc. raised its holdings in Global Indemnity Group by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 299,626 shares of the insurance provider's stock worth $8,704,000 after purchasing an additional 1,191 shares in the last quarter. Cannell Capital LLC boosted its holdings in shares of Global Indemnity Group by 1.4% in the 2nd quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider's stock valued at $8,853,000 after buying an additional 3,841 shares in the last quarter. Boston Partners grew its position in shares of Global Indemnity Group by 9.6% in the 4th quarter. Boston Partners now owns 150,351 shares of the insurance provider's stock worth $4,270,000 after buying an additional 13,181 shares during the last quarter. Franklin Street Advisors Inc. NC purchased a new position in shares of Global Indemnity Group in the 2nd quarter worth approximately $368,000. Finally, State of Wyoming raised its stake in shares of 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 in the last quarter. Institutional investors own 37.40% of the company's stock.

About Global Indemnity Group

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.

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