Global Indemnity Group (NASDAQ:GBLI) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Global Indemnity Group (NASDAQ:GBLI) passed above its 200-day moving average intraday (200‑day MA $28.31), trading as high as $28.57 before last trading at $27.3850 on light volume (3,013 shares).
• The company paid a quarterly dividend of $0.35 per share (ex-dividend March 20, paid March 30), equal to a $1.40 annualized payout and a 5.1% yield with a payout ratio of 81.87%.
• Analysts maintain a consensus Hold rating (Weiss Ratings reissued "hold (c)"); the stock has a market cap of $392.97M, a P/E of 16.01, and about 37.4% institutional ownership with several funds recently adding or initiating positions.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.31 and traded as high as $28.57. Global Indemnity Group shares last traded at $27.3850, with a volume of 3,013 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Global Indemnity Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold".

Global Indemnity Group Price Performance

The stock has a market capitalization of $392.97 million, a P/E ratio of 16.01 and a beta of 0.40. The stock's 50-day simple moving average is $28.06 and its 200 day simple moving average is $28.31.

Global Indemnity Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, March 20th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.40 annualized dividend and a dividend yield of 5.1%. Global Indemnity Group's payout ratio is presently 81.87%.

Hedge Funds Weigh In On Global Indemnity Group

Several institutional investors and hedge funds have recently made changes to their positions in GBLI. Clearstead Advisors LLC lifted its holdings in Global Indemnity Group by 190.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider's stock worth $41,000 after purchasing an additional 954 shares during the last quarter. State of Wyoming grew its holdings in Global Indemnity Group by 23.8% in the 4th quarter. State of Wyoming now owns 4,898 shares of the insurance provider's stock valued at $139,000 after buying an additional 942 shares in the last quarter. Flagship Capital Management Inc. bought a new position in Global Indemnity Group during the 4th quarter worth $241,000. Maryland Capital Advisors Inc. bought a new position in Global Indemnity Group during the 4th quarter worth $330,000. Finally, Cove Street Capital LLC lifted its holdings in shares of Global Indemnity Group by 5.6% during the third quarter. Cove Street Capital LLC now owns 18,746 shares of the insurance provider's stock worth $545,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 37.40% of the company's stock.

Global Indemnity Group Company Profile

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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