StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Free Report) in a research note issued to investors on Tuesday. The firm issued a buy rating on the insurance provider's stock.
Global Indemnity Group Price Performance
Global Indemnity Group stock traded down $0.51 during mid-day trading on Tuesday, hitting $35.49. The company's stock had a trading volume of 3,106 shares, compared to its average volume of 2,810. The stock has a market cap of $485.86 million, a price-to-earnings ratio of 12.20 and a beta of 0.42. The business has a 50 day moving average price of $35.67 and a 200-day moving average price of $34.09. Global Indemnity Group has a 12 month low of $27.47 and a 12 month high of $37.00.
Global Indemnity Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 24th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.94%. The ex-dividend date was Tuesday, December 24th. Global Indemnity Group's dividend payout ratio is presently 48.11%.
Institutional Trading of Global Indemnity Group
Hedge funds have recently added to or reduced their stakes in the business. Huber Capital Management LLC bought a new position in shares of Global Indemnity Group during the fourth quarter valued at about $232,000. Boston Partners raised 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 valued at $3,742,000 after acquiring an additional 26,893 shares during the last quarter. Finally, 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 valued at $8,854,000 after acquiring an additional 46,167 shares during the last quarter. 37.40% of the stock is owned by institutional investors.
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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