Global Indemnity Group (NASDAQ:GBLI) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note released on Monday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Down 0.1 %

GBLI stock opened at $34.33 on Monday. Global Indemnity Group has a 52-week low of $29.55 and a 52-week high of $37.00. The firm has a market cap of $489.42 million, a P/E ratio of 11.80 and a beta of 0.46. The company’s 50-day simple moving average is $35.37 and its 200-day simple moving average is $34.90.

Global Indemnity Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 21st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Friday, March 21st. Global Indemnity Group’s payout ratio is 44.87%.

Insider Activity

In other news, CEO Praveen Kotha Reddy acquired 1,500 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $35.96 per share, with a total value of $53,940.00. Following the completion of the purchase, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $53,940. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 52.80% of the company’s stock.

Hedge Funds Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners increased its holdings in shares of Global Indemnity Group by 34.9% in the 4th 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 during the last quarter. State of Wyoming boosted 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 buying an additional 685 shares during the period. Cannell Capital LLC raised 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 last quarter. Finally, Huber Capital Management LLC acquired a new stake in shares of Global Indemnity Group in the 4th quarter worth $232,000. 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.