StockNews.com Initiates Coverage on Global Indemnity Group (NASDAQ:GBLI)

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLIGet Rating) in a research note published on Monday morning. The firm issued a hold rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

NASDAQ GBLI opened at $23.70 on Monday. The company has a market capitalization of $346.49 million, a PE ratio of 16.46 and a beta of 0.35. The company has a fifty day moving average of $22.79 and a 200 day moving average of $24.83. Global Indemnity Group has a 1 year low of $20.52 and a 1 year high of $27.66.

Global Indemnity Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Tuesday, October 4th were given a dividend of $0.25 per share. The ex-dividend date was Monday, October 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.22%. Global Indemnity Group’s dividend payout ratio is presently 69.44%.

Insider Activity at Global Indemnity Group

In other Global Indemnity Group news, Director Gary Charles Tolman bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The stock was bought at an average cost of $23.60 per share, for a total transaction of $35,400.00. Following the completion of the transaction, the director now directly owns 5,599 shares of the company’s stock, valued at approximately $132,136.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 2,499 shares of company stock worth $59,929 over the last three months. Company insiders own 44.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. purchased a new position in Global Indemnity Group in the second quarter valued at $259,000. Cullen Frost Bankers Inc. increased its holdings in Global Indemnity Group by 22.2% in the first quarter. Cullen Frost Bankers Inc. now owns 11,000 shares of the insurance provider’s stock valued at $287,000 after buying an additional 2,000 shares in the last quarter. RBF Capital LLC purchased a new position in Global Indemnity Group in the first quarter valued at $533,000. Renaissance Technologies LLC increased its holdings in Global Indemnity Group by 7.1% in the first quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider’s stock valued at $2,195,000 after buying an additional 5,600 shares in the last quarter. Finally, Berkley W R Corp purchased a new position in Global Indemnity Group in the first quarter valued at $15,427,000. 49.28% of the stock is currently owned by institutional investors and hedge funds.

Global Indemnity Group Company Profile

(Get Rating)

Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance and reinsurance products worldwide. It operates through Commercial Specialty; Farm, Ranch, & Stable; and Reinsurance Operations segments. The Commercial Specialty segment distributes property, general liability, casualty, and professional lines products.

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