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

Research analysts at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Get Free Report) in a research note issued to investors on Sunday. The firm set a "buy" rating on the insurance provider's stock.

Global Indemnity Group Stock Up 0.3 %

Shares of NASDAQ GBLI traded up $0.12 during midday trading on Friday, hitting $36.12. The stock had a trading volume of 389 shares, compared to its average volume of 3,644. The business's 50 day moving average is $35.33 and its 200-day moving average is $34.82. Global Indemnity Group has a 52 week low of $28.62 and a 52 week high of $37.00. The company has a market cap of $515.00 million, a P/E ratio of 12.41 and a beta of 0.46.

Insider Activity

In related news, CEO Praveen Kotha Reddy acquired 1,500 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $35.96 per share, with a total value of $53,940.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,500 shares of the company's stock, valued at approximately $53,940. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 52.80% of the company's stock.

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Institutional Investors Weigh In On Global Indemnity Group

Hedge funds have recently added to or reduced their stakes in the stock. Boston Partners grew its holdings in shares of Global Indemnity Group by 34.9% in the fourth 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. Huber Capital Management LLC purchased a new stake in shares of Global Indemnity Group during the 4th quarter valued at about $232,000. Cannell Capital LLC lifted its stake in shares of Global Indemnity Group by 23.1% in the 4th 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. 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 worth $68,000 after buying an additional 685 shares during the last quarter. 37.40% of the stock is currently owned by hedge funds and other institutional investors.

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.