Global Indemnity Group, LLC (NASDAQ:GBLI) Plans Quarterly Dividend of $0.35

Global Indemnity Group, LLC (NASDAQ:GBLI) declared a quarterly dividend on Wednesday, June 3rd. Shareholders of record on Thursday, June 18th will be paid a dividend of 0.35 per share by the insurance provider on Monday, June 29th. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Thursday, June 18th.

Global Indemnity Group has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Global Indemnity Group has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Global Indemnity Group to earn $3.14 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 44.6%.

Global Indemnity Group Stock Performance

Shares of NASDAQ GBLI opened at $26.98 on Thursday. The firm has a 50 day moving average price of $27.43 and a two-hundred day moving average price of $28.01. Global Indemnity Group has a 52-week low of $25.63 and a 52-week high of $34.00. The stock has a market cap of $394.18 million, a P/E ratio of 11.73 and a beta of 0.39.

Global Indemnity Group (NASDAQ:GBLI) last posted its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.03). Global Indemnity Group had a net margin of 7.42% and a return on equity of 5.81%. The firm had revenue of $109.18 million during the quarter. Analysts predict that Global Indemnity Group will post 2.69 earnings per share for the current fiscal year.

Institutional Trading of Global Indemnity Group

A number of large investors have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC increased its stake in shares of Global Indemnity Group by 190.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 954 shares in the last quarter. State of Wyoming increased its stake in shares of Global Indemnity Group by 23.8% in the fourth quarter. State of Wyoming now owns 4,898 shares of the insurance provider’s stock worth $139,000 after purchasing an additional 942 shares in the last quarter. Flagship Capital Management Inc. purchased a new position in shares of Global Indemnity Group in the fourth quarter worth about $241,000. Maryland Capital Advisors Inc. purchased a new position in shares of Global Indemnity Group in the fourth quarter worth about $330,000. Finally, Cove Street Capital LLC increased its stake in shares of Global Indemnity Group by 5.6% in the third 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 in the last quarter. Hedge funds and other institutional investors own 37.40% of the company’s stock.

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.