Global Indemnity Group (NASDAQ:GBLI) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Global Indemnity's share price briefly rose above its 200-day moving average of $28.38 on Friday, trading as high as $28.58 before settling around $27.98 (volume 1,684 shares).
• The company pays a quarterly dividend of $0.35 ($1.40 annualized) — a 5.0% yield — with a payout ratio of 81.87%, signaling a relatively high distribution versus earnings.
• Analysts have a consensus Hold rating on GBLI; the company has a market cap of $401.56 million and a P/E of 16.36.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.38 and traded as high as $28.58. Global Indemnity Group shares last traded at $27.9830, with a volume of 1,684 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Global Indemnity Group in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Global Indemnity Group Stock Down 2.1%

The firm has a market cap of $401.56 million, a price-to-earnings ratio of 16.36 and a beta of 0.40. The company's 50-day moving average price is $28.12 and its 200-day moving average price is $28.38.

Global Indemnity Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, March 20th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.0%. The ex-dividend date was Friday, March 20th. Global Indemnity Group's payout ratio is 81.87%.

Hedge Funds Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position 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 worth $8,704,000 after purchasing an additional 1,191 shares in the last quarter. Cannell Capital LLC lifted its holdings in 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 purchasing an additional 3,841 shares in the last quarter. Boston Partners lifted its holdings in Global Indemnity Group by 9.6% in the 4th quarter. Boston Partners now owns 150,351 shares of the insurance provider's stock valued at $4,270,000 after purchasing an additional 13,181 shares in the last quarter. Cove Street Capital LLC boosted its stake in Global Indemnity Group by 5.6% during the 3rd quarter. Cove Street Capital LLC now owns 18,746 shares of the insurance provider's stock worth $545,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Maryland Capital Advisors Inc. acquired a new stake in Global Indemnity Group during the 4th quarter worth $330,000. Hedge funds and other institutional investors 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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