Global Indemnity Group, LLC (NASDAQ:GBLI) Short Interest Down 56.7% in August

Global Indemnity Group, LLC (NASDAQ:GBLI) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 11,692 shares, a decline of 56.7% from the July 30th total of 26,976 shares. Based on an average daily trading volume, of 4,084 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Global Indemnity Group

A number of hedge funds and other institutional investors have recently made changes to their positions in GBLI. Boston Partners boosted its stake in Global Indemnity Group by 9.6% in the 4th quarter. Boston Partners now owns 150,351 shares of the insurance provider’s stock worth $4,270,000 after buying an additional 13,181 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Global Indemnity Group by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 299,626 shares of the insurance provider’s stock valued at $8,704,000 after buying an additional 1,191 shares during the period. Cannell Capital LLC increased 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 valued at $8,853,000 after acquiring an additional 3,841 shares during the last quarter. Franklin Street Advisors Inc. NC acquired a new position in shares of Global Indemnity Group during the 2nd quarter valued at about $368,000. Finally, State of Wyoming lifted its holdings in shares of Global Indemnity Group by 23.8% during the 4th quarter. State of Wyoming now owns 4,898 shares of the insurance provider’s stock worth $139,000 after acquiring an additional 942 shares during the period. Hedge funds and other institutional investors own 37.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Global Indemnity Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Global Indemnity Group currently has a consensus rating of “Hold”.

Global Indemnity Group Trading Up 2.1%

Shares of Global Indemnity Group stock traded up $0.62 during mid-day trading on Friday, hitting $29.62. 8,503 shares of the stock were exchanged, compared to its average volume of 4,517. The stock has a market capitalization of $432.75 million, a price-to-earnings ratio of 12.60 and a beta of 0.41. Global Indemnity Group has a twelve month low of $24.28 and a twelve month high of $30.52. The company has a 50-day simple moving average of $26.87 and a 200 day simple moving average of $27.34.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). The firm had revenue of $116.10 million during the quarter. Global Indemnity Group had a net margin of 7.50% and a return on equity of 5.56%. Equities research analysts forecast that Global Indemnity Group will post 2.68 earnings per share for the current fiscal year.

Global Indemnity Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 18th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Thursday, June 18th. Global Indemnity Group’s dividend payout ratio is currently 59.57%.

About Global Indemnity Group

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.