Springhouse Capital Management LP Boosts Position in Global Indemnity Ltd (GBLI)

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Springhouse Capital Management LP boosted its holdings in shares of Global Indemnity Ltd (NASDAQ:GBLI) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 713,253 shares of the insurance provider’s stock after purchasing an additional 63,265 shares during the period. Global Indemnity comprises 12.9% of Springhouse Capital Management LP’s portfolio, making the stock its 4th biggest holding. Springhouse Capital Management LP owned about 5.03% of Global Indemnity worth $24,621,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GBLI. Cove Street Capital LLC bought a new stake in Global Indemnity during the 1st quarter worth about $1,155,000. Schwab Charles Investment Management Inc. grew its stake in Global Indemnity by 8.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,513 shares of the insurance provider’s stock valued at $1,468,000 after buying an additional 3,404 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in Global Indemnity in the 1st quarter valued at about $288,000. Deutsche Bank AG grew its stake in Global Indemnity by 125.1% in the 4th quarter. Deutsche Bank AG now owns 27,168 shares of the insurance provider’s stock valued at $1,139,000 after buying an additional 15,100 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Global Indemnity by 10.4% in the 4th quarter. Renaissance Technologies LLC now owns 102,064 shares of the insurance provider’s stock valued at $4,289,000 after buying an additional 9,600 shares during the last quarter. 56.56% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Richmond Hill Investment Co., sold 14,072 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $41.55, for a total transaction of $584,691.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 39,842 shares of company stock valued at $1,616,946 in the last quarter. Corporate insiders own 41.40% of the company’s stock.

GBLI opened at $38.98 on Friday. The firm has a market cap of $563.47 million, a PE ratio of 74.98 and a beta of 1.00. Global Indemnity Ltd has a twelve month low of $32.22 and a twelve month high of $49.91.

Global Indemnity (NASDAQ:GBLI) last released its quarterly earnings results on Tuesday, May 8th. The insurance provider reported $0.81 earnings per share for the quarter. The company had revenue of $119.64 million for the quarter. Global Indemnity had a negative net margin of 3.35% and a positive return on equity of 0.91%.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 22nd were paid a $0.25 dividend. The ex-dividend date was Thursday, June 21st. This represents a $1.00 annualized dividend and a dividend yield of 2.57%.

A number of research analysts have issued reports on GBLI shares. TheStreet upgraded shares of Global Indemnity from a “c+” rating to a “b” rating in a research report on Tuesday, May 8th. BidaskClub raised shares of Global Indemnity from a “sell” rating to a “hold” rating in a research note on Tuesday, June 5th.

About Global Indemnity

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.

Institutional Ownership by Quarter for Global Indemnity (NASDAQ:GBLI)

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