Global Indemnity Group (NASDAQ:GBLI) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Global Indemnity Group shares crossed above their 200-day moving average, reaching $30.25 before closing at $28.52, compared with the average of $27.41.
• Weiss Ratings upgraded the stock from “hold (c-)” to “hold (c),” while the broader analyst consensus remains Hold.
• The insurer reported quarterly EPS of $0.59, below the $0.63 consensus estimate, on revenue of $116.1 million; institutional investors own 37.4% of the company.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.41 and traded as high as $30.25. Global Indemnity Group shares last traded at $28.52, with a volume of 3,758 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Global Indemnity Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. 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 $416.65 million, a price-to-earnings ratio of 12.14 and a beta of 0.42. The stock's 50 day simple moving average is $27.53 and its 200-day simple moving average is $27.41.

Global Indemnity Group (NASDAQ:GBLI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.04). Global Indemnity Group had a return on equity of 5.56% and a net margin of 7.50%.The business had revenue of $116.10 million for the quarter. As a group, equities research analysts anticipate that Global Indemnity Group, LLC will post 2.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global Indemnity Group

Institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its position in shares of Global Indemnity Group by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 298,435 shares of the insurance provider's stock worth $9,359,000 after buying an additional 2,565 shares during the last quarter. Cannell Capital LLC boosted its stake in shares of Global Indemnity Group by 1.4% during the 2nd quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider's stock worth $8,853,000 after acquiring an additional 3,841 shares in the last quarter. State of Wyoming increased its holdings in shares of Global Indemnity Group by 70.5% during the 2nd quarter. State of Wyoming now owns 4,524 shares of the insurance provider's stock valued at $142,000 after acquiring an additional 1,870 shares during the last quarter. Boston Partners increased its holdings in shares of Global Indemnity Group by 5.0% during the 3rd quarter. Boston Partners now owns 137,170 shares of the insurance provider's stock valued at $3,985,000 after acquiring an additional 6,552 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Global Indemnity Group by 190.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 954 shares during the last quarter. 37.40% of the stock is currently owned by institutional investors.

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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