BidaskClub Lowers Global Indemnity (NASDAQ:GBLI) to Sell

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BidaskClub lowered shares of Global Indemnity (NASDAQ:GBLI) from a hold rating to a sell rating in a report issued on Friday morning, BidAskClub reports.

NASDAQ GBLI opened at $26.74 on Friday. The business has a fifty day moving average price of $29.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.26 and a current ratio of 0.26. Global Indemnity has a 12-month low of $26.01 and a 12-month high of $41.79.

Global Indemnity (NASDAQ:GBLI) last released its quarterly earnings results on Friday, May 3rd. The insurance provider reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $1.02. The business had revenue of $140.19 million for the quarter. Global Indemnity had a negative net margin of 8.24% and a negative return on equity of 3.44%.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, June 20th.

Several institutional investors and hedge funds have recently made changes to their positions in GBLI. Geode Capital Management LLC boosted its holdings in Global Indemnity by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 87,944 shares of the insurance provider’s stock valued at $3,186,000 after purchasing an additional 3,961 shares during the last quarter. BlackRock Inc. boosted its holdings in Global Indemnity by 2.3% in the fourth quarter. BlackRock Inc. now owns 691,910 shares of the insurance provider’s stock valued at $25,069,000 after purchasing an additional 15,523 shares during the last quarter. Rhumbline Advisers boosted its holdings in Global Indemnity by 37.7% in the fourth quarter. Rhumbline Advisers now owns 13,449 shares of the insurance provider’s stock valued at $487,000 after purchasing an additional 3,681 shares during the last quarter. Boston Partners boosted its holdings in Global Indemnity by 1.9% in the first quarter. Boston Partners now owns 345,157 shares of the insurance provider’s stock valued at $10,486,000 after purchasing an additional 6,374 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Global Indemnity by 658.2% in the first quarter. BNP Paribas Arbitrage SA now owns 1,759 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 1,527 shares during the last quarter. 56.09% of the stock is currently owned by hedge funds and other institutional investors.

Global Indemnity Company Profile

Global Indemnity Limited, through its subsidiaries, provides insurance and reinsurance products and services in the United States and internationally. The company operates through three segments: Commercial Lines, Personal Lines, and Reinsurance Operations. The Commercial Lines segment distributes property, general liability, casualty, and professional lines products, as well as products for vacant, and under construction and renovation dwellings.

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