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

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) declared a quarterly dividend on Thursday, June 5th, RTT News reports. Shareholders 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%. The ex-dividend date is Friday, June 20th.

Global Indemnity Group has increased its dividend by an average of 11.9% per year over the last three years and has raised its dividend every year for the last 1 years. Global Indemnity Group has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of GBLI traded up $0.14 during trading hours on Friday, hitting $31.28. 355 shares of the stock were exchanged, compared to its average volume of 4,086. Global Indemnity Group has a fifty-two week low of $26.94 and a fifty-two week high of $37.00. The business has a 50-day moving average of $29.98 and a 200-day moving average of $33.61. The firm has a market capitalization of $445.92 million, a P/E ratio of 10.75 and a beta of 0.41.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Global Indemnity Group news, Director Saul A. Fox acquired 11,400 shares of Global Indemnity Group stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average cost of $29.19 per share, for a total transaction of $332,766.00. Following the completion of the acquisition, the director now directly owns 1,796,285 shares of the company's stock, valued at $52,433,559.15. This represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Praveen Kotha Reddy acquired 1,500 shares of Global Indemnity Group stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $35.96 per share, with a total value of $53,940.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,500 shares of the company's stock, valued at approximately $53,940. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 50,300 shares of company stock worth $1,525,800. 52.50% of the stock is currently owned by company insiders.

About Global Indemnity Group

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.