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

StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note published on Wednesday. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Trading Down 2.3 %

NASDAQ:GBLI opened at $35.65 on Wednesday. The stock has a market cap of $487.98 million, a price-to-earnings ratio of 12.25 and a beta of 0.42. The stock has a 50-day moving average price of $35.08 and a two-hundred day moving average price of $32.91. Global Indemnity Group has a 1 year low of $27.47 and a 1 year high of $37.00.

Global Indemnity Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $1.40 dividend on an annualized basis and a yield of 3.93%. Global Indemnity Group’s payout ratio is 48.11%.

Institutional Investors Weigh In On Global Indemnity Group

A hedge fund recently bought a new stake in Global Indemnity Group stock. Innealta Capital LLC bought a new position in Global Indemnity Group, LLC (NASDAQ:GBLI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,768 shares of the insurance provider’s stock, valued at approximately $55,000. Hedge funds and other institutional investors own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

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.