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

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

Global Indemnity Group Stock Performance

NASDAQ GBLI opened at $36.04 on Friday. The stock has a fifty day moving average of $35.25 and a 200-day moving average of $34.77. The stock has a market capitalization of $493.25 million, a P/E ratio of 12.38 and a beta of 0.46. Global Indemnity Group has a 52 week low of $28.62 and a 52 week high of $37.00.

Global Indemnity Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 21st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 3.89%. Global Indemnity Group’s dividend payout ratio (DPR) is currently 44.87%.

Insider Activity

In other news, CEO Praveen Kotha Reddy bought 1,500 shares of the stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $35.96 per share, with a total value of $53,940.00. Following the purchase, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $53,940. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 52.80% of the company’s stock.

Institutional Investors Weigh In On Global Indemnity Group

A number of institutional investors have recently made changes to their positions in the stock. Cannell Capital LLC grew its stake in shares of Global Indemnity Group by 23.1% during the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after purchasing an additional 46,167 shares during the period. Boston Partners grew its stake 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 worth $3,742,000 after purchasing an additional 26,893 shares during the period. Huber Capital Management LLC acquired a new stake in shares of Global Indemnity Group during the fourth quarter worth $232,000. Finally, State of Wyoming grew its stake in shares of Global Indemnity Group by 56.3% during the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 685 shares during the period. 37.40% of the stock is owned by institutional investors and hedge funds.

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.