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

Stock analysts at StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report released on Tuesday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

GBLI opened at $32.27 on Tuesday. Global Indemnity Group has a 52-week low of $26.50 and a 52-week high of $37.00. The firm has a market cap of $439.04 million, a P/E ratio of 13.01 and a beta of 0.44. The business’s fifty day moving average is $31.03 and its 200-day moving average is $30.80.

Institutional Investors Weigh In On Global Indemnity Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in Global Indemnity Group during the 2nd quarter worth approximately $55,000. Harbor Capital Advisors Inc. grew its position in Global Indemnity Group by 223.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after acquiring an additional 19,830 shares during the last quarter. Boston Partners acquired a new position in Global Indemnity Group in the 1st quarter worth about $2,488,000. Finally, Cannell Capital LLC acquired a new position in Global Indemnity Group in the 4th quarter worth about $3,562,000. 37.40% of the stock is currently 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.