China smartphone shipments slumped in June on inventory overhang: Jefferies
In a recent transaction, Praveen Kotha, President and CEO of Penn-America Underwriting LLC, a subsidiary of Global Indemnity Group, LLC (NASDAQ:GBLI), acquired 1,500 Class A common shares in the company. The insurance company, currently valued at approximately $509 million, has shown strong financial health according to InvestingPro analysis, with shares trading near their 52-week high of $37. The shares were purchased at a price of $35.96 each, totaling approximately $53,940. This acquisition increases Kotha’s direct holdings to 1,500 shares. The transaction was reported in a Form 4 filing with the SEC, dated March 14, 2025. The company trades at an attractive P/E ratio of 11.4x and offers a dividend yield of 3.9%. InvestingPro subscribers can access additional insights, including 5 more key tips and a comprehensive analysis of GBLI’s financial metrics.
In other recent news, Global Indemnity PLC reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $1.63 compared to the forecasted $0.77. Despite this strong EPS performance, the company faced a revenue shortfall, reporting $95.79 million against the anticipated $114 million. The company’s net income rose significantly to $43.2 million from $25.4 million in the previous year, showcasing a robust financial position. Additionally, investment income increased by 13% year-over-year, contributing to the company’s overall financial health. Global Indemnity’s book value per share rose to $49.98, reflecting an 8.1% return to shareholders in 2024. The company also noted a decline in consolidated gross premiums to $389.8 million from $416.4 million, attributed to strategic shifts in its business operations. Regulatory challenges in California, particularly regarding wildfire exposures, were highlighted as ongoing risks, with potential financial impacts under review. Looking forward, Global Indemnity expects a 10% revenue growth from its Penn America segment in 2025, supported by strategic investments and product enhancements.
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