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

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

Global Indemnity Group Stock Performance

NASDAQ:GBLI opened at $36.39 on Friday. The company has a 50-day moving average of $34.08 and a 200-day moving average of $32.30. Global Indemnity Group has a 52 week low of $26.50 and a 52 week high of $37.00. The company has a market capitalization of $498.18 million, a price-to-earnings ratio of 12.51 and a beta of 0.43.

Institutional Investors Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in Global Indemnity Group in the 2nd quarter valued at $55,000. Harbor Capital Advisors Inc. boosted its holdings in Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after acquiring an additional 19,830 shares during the last quarter. Finally, Boston Partners acquired a new stake in Global Indemnity Group in the first quarter worth about $2,488,000. Institutional investors and hedge funds own 37.40% of the company’s stock.

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.