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

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) declared a quarterly dividend on Thursday, June 5th, RTT News reports. Investors of record on Friday, June 20th will be paid a dividend of 0.35 per share by the insurance provider on Friday, June 27th. This represents a $1.40 annualized dividend and a yield of 4.48%.

Global Indemnity Group has raised its dividend by an average of 11.9% 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% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Global Indemnity Group to earn $3.48 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 40.2%.

Global Indemnity Group Trading Up 0.4%

Shares of GBLI stock traded up $0.14 during trading hours on Friday, reaching $31.28. 323 shares of the company's stock were exchanged, compared to its average volume of 4,063. The stock has a market cap of $445.92 million, a PE ratio of 10.75 and a beta of 0.39. The stock's fifty day moving average price is $30.06 and its two-hundred day moving average price is $33.64. Global Indemnity Group has a 1 year low of $26.94 and a 1 year high of $37.00.

Insider Activity at Global Indemnity Group

In other Global Indemnity Group news, CEO Praveen Kotha Reddy bought 1,500 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $35.96 per share, for a total transaction of $53,940.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company's stock, valued at approximately $53,940. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Saul A. Fox purchased 10,000 shares of the business's stock in a transaction on Monday, May 19th. The shares were bought at an average cost of $31.79 per share, for a total transaction of $317,900.00. Following the completion of the transaction, the director now directly owns 1,828,685 shares in the company, valued at $58,133,896.15. This trade represents a 0.55% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 50,300 shares of company stock worth $1,525,800 over the last quarter. Insiders own 52.50% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen started coverage on Global Indemnity Group in a research report on Sunday, May 18th. They set a "buy" rating for the company.

Global Indemnity Group Company Profile

Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products worldwide. It operates in two segments, Penn-America and Non-Core Operations. The company distributes property and general liability products for small commercial businesses through a network of wholesale general agents; and property and general liability niche products through program administrators with specific binding authority.