Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report issued on Sunday morning. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Trading Up 0.5 %

Shares of Global Indemnity Group stock opened at $36.12 on Friday. The business’s 50-day moving average price is $35.33 and its 200-day moving average price is $34.82. The firm has a market capitalization of $515.00 million, a PE ratio of 12.41 and a beta of 0.46. Global Indemnity Group has a 12 month low of $28.62 and a 12 month high of $37.00.

Global Indemnity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 21st will be issued a $0.35 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.88%. Global Indemnity Group’s payout ratio is 44.87%.

Insider Activity at Global Indemnity Group

In other news, CEO Praveen Kotha Reddy bought 1,500 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average price of $35.96 per share, for a total transaction of $53,940.00. Following the completion of the acquisition, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 52.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently modified their holdings of GBLI. State of Wyoming increased its holdings in Global Indemnity Group by 56.3% during the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 685 shares during the period. Huber Capital Management LLC bought a new position in shares of Global Indemnity Group during the fourth quarter valued at approximately $232,000. Boston Partners raised its holdings in shares of Global Indemnity Group by 34.9% during the fourth quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock valued at $3,742,000 after acquiring an additional 26,893 shares in the last quarter. Finally, Cannell Capital LLC lifted its stake in Global Indemnity Group by 23.1% in the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after acquiring an additional 46,167 shares during the period. 37.40% of the stock is owned by institutional investors.

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.