Global Indemnity Group, LLC (GBLI) to Issue Quarterly Dividend of $0.35 on March 28th

Global Indemnity Group, LLC (NASDAQ:GBLI) announced a quarterly dividend on Thursday, March 6th, RTT News reports. Investors of record on Friday, March 21st will be paid a dividend of 0.35 per share by the insurance provider on Friday, March 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, March 21st.

Global Indemnity Group has increased its dividend payment by an average of 11.9% annually over the last three years. Global Indemnity Group has a payout ratio of 32.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Global Indemnity Group to earn $3.48 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 40.2%.

Global Indemnity Group Stock Performance

GBLI opened at $35.94 on Wednesday. The company has a fifty day moving average of $35.24 and a two-hundred day moving average of $34.68. The stock has a market capitalization of $491.93 million, a price-to-earnings ratio of 12.35 and a beta of 0.46. Global Indemnity Group has a fifty-two week low of $28.37 and a fifty-two week high of $37.00.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Global Indemnity Group in a report on Saturday. They issued a “buy” rating for the company.

Insider Activity

In related news, CEO Praveen Kotha Reddy bought 1,500 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $35.96 per share, with a total value of $53,940.00. Following the completion of the purchase, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $53,940. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 52.80% of the company’s stock.

About Global Indemnity Group

Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products worldwide. It operates in two segments, Penn-America and Non-Core Operations. The company distributes property and general liability products for small commercial businesses through a network of wholesale general agents; and property and general liability niche products through program administrators with specific binding authority.