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

by · The Cerbat Gem

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

Global Indemnity Group Stock Up 0.5 %

NASDAQ:GBLI opened at $29.98 on Wednesday. The company has a market capitalization of $427.38 million, a PE ratio of 10.30 and a beta of 0.29. Global Indemnity Group has a 52-week low of $28.75 and a 52-week high of $37.00. The stock’s 50 day moving average price is $33.86 and its 200 day moving average price is $34.65.

Global Indemnity Group Announces Dividend

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 $0.35 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.67%. Global Indemnity Group’s payout ratio is 44.87%.

Insider Buying and Selling

In other Global Indemnity Group news, CEO Praveen Kotha Reddy acquired 1,500 shares of the company’s stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $35.96 per share, for a total transaction of $53,940.00. Following the completion of the purchase, the chief executive officer now owns 1,500 shares in the company, valued at $53,940. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 52.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners lifted its position in Global Indemnity Group by 34.9% during the 4th quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock worth $3,742,000 after acquiring an additional 26,893 shares during the period. Cannell Capital LLC increased its stake in Global Indemnity Group by 23.1% in the 4th quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock valued at $8,854,000 after buying an additional 46,167 shares during the period. Huber Capital Management LLC purchased a new position in Global Indemnity Group during the 4th quarter worth $232,000. Finally, State of Wyoming boosted its holdings in shares of Global Indemnity Group by 56.3% in the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 37.40% of the company’s stock.

About Global Indemnity Group

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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.

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