Global Indemnity Group, LLC (GBLI) to Issue Quarterly Dividend of $0.35 on June 29th

Global Indemnity Group, LLC (NASDAQ:GBLI) announced a quarterly dividend on Wednesday, June 3rd. Stockholders of record on Thursday, June 18th will be given a dividend of 0.35 per share by the insurance provider on Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend 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 every year for the last 1 years. Global Indemnity Group has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.1%

GBLI opened at $27.00 on Friday. The business’s 50 day moving average is $27.41 and its 200-day moving average is $28.01. The stock has a market cap of $394.44 million, a PE ratio of 11.74 and a beta of 0.39. Global Indemnity Group has a twelve month low of $25.63 and a twelve month high of $34.00.

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 company had revenue of $109.18 million for the quarter. As a group, analysts forecast that Global Indemnity Group will post 2.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cove Street Capital LLC increased its stake in shares of Global Indemnity Group by 5.6% during the third quarter. Cove Street Capital LLC now owns 18,746 shares of the insurance provider’s stock valued at $545,000 after acquiring an additional 1,000 shares during the period. Flagship Capital Management Inc. acquired a new position in Global Indemnity Group in the fourth quarter worth approximately $241,000. State of Wyoming increased its holdings in shares of Global Indemnity Group by 22.4% in the first quarter. State of Wyoming now owns 5,993 shares of the insurance provider’s stock valued at $163,000 after buying an additional 1,095 shares in the last quarter. Boston Partners increased its holdings in shares of Global Indemnity Group by 5.0% in the third quarter. Boston Partners now owns 137,170 shares of the insurance provider’s stock valued at $3,985,000 after buying an additional 6,552 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Global Indemnity Group by 0.4% in the third 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 in the last quarter. Institutional investors and hedge funds 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.