Global Indemnity Group, LLC (NASDAQ:GBLI) Short Interest Update

Key Points

• Short interest fell 31.8% to 13,185 shares as of July 15, representing just 0.2% of GBLI’s outstanding stock and 0.8 days to cover.
• Institutional investors own 37.4% of the company, with Boston Partners increasing its position by 9.6% and several firms establishing new stakes.
• GBLI offers a quarterly dividend of $0.35, or $1.40 annually, yielding approximately 5.1%; however, its latest quarterly earnings of $0.57 per share missed the $0.60 consensus estimate, and analysts maintain a “Hold” rating.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 13,185 shares, a decrease of 31.8% from the June 30th total of 19,343 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 16,245 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of Global Indemnity Group

A number of institutional investors have recently made changes to their positions in GBLI. Ameriprise Financial Inc. raised 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 last quarter. Cannell Capital LLC boosted its holdings in Global Indemnity Group by 1.4% in the second quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider's stock worth $8,853,000 after purchasing an additional 3,841 shares during the last quarter. Boston Partners boosted its holdings in 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 during the last quarter. Franklin Street Advisors Inc. NC bought a new stake in Global Indemnity Group in the 2nd quarter worth approximately $368,000. Finally, Maryland Capital Advisors Inc. bought a new stake in Global Indemnity Group in the 4th quarter worth approximately $330,000. Hedge funds and other institutional investors own 37.40% of the company's stock.

Global Indemnity Group Trading Up 0.0%

Shares of GBLI opened at $27.50 on Friday. The company has a market cap of $401.75 million, a price-to-earnings ratio of 11.96 and a beta of 0.42. The business's fifty day simple moving average is $26.26 and its two-hundred day simple moving average is $27.48. Global Indemnity Group has a 12 month low of $24.28 and a 12 month high of $30.52.

Global Indemnity Group (NASDAQ:GBLI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.03). The business had revenue of $109.18 million during the quarter. Global Indemnity Group had a return on equity of 5.81% and a net margin of 7.42%. As a group, research analysts forecast that Global Indemnity Group will post 2.69 EPS for the current year.

Global Indemnity Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 18th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $1.40 dividend on an annualized basis and a yield of 5.1%. Global Indemnity Group's payout ratio is 60.87%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Global Indemnity Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

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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