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

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Free Report) in a report issued on Tuesday. The firm issued a buy rating on the insurance provider's stock.

Global Indemnity Group Trading Down 0.2 %

GBLI stock traded down $0.05 during mid-day trading on Tuesday, hitting $29.96. The stock had a trading volume of 3,143 shares, compared to its average volume of 3,639. The stock has a market capitalization of $427.10 million, a price-to-earnings ratio of 10.29 and a beta of 0.29. Global Indemnity Group has a 1-year low of $28.75 and a 1-year high of $37.00. The company has a fifty day moving average of $34.41 and a 200 day moving average of $34.77.

Global Indemnity Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 21st were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.40 annualized dividend and a yield of 4.67%. Global Indemnity Group's dividend payout ratio (DPR) is currently 44.87%.

Insider Activity

In other Global Indemnity Group news, CEO Praveen Kotha Reddy acquired 1,500 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $35.96 per share, with a total value of $53,940.00. Following the transaction, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is accessible through this link. 52.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Global Indemnity Group

Several hedge funds have recently modified their holdings of the business. State of Wyoming boosted its holdings in Global Indemnity Group by 56.3% in the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider's stock valued at $68,000 after purchasing an additional 685 shares during the period. Cannell Capital LLC grew its position in 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 buying an additional 46,167 shares in the last quarter. Huber Capital Management LLC bought a new position in Global Indemnity Group during the fourth quarter valued at about $232,000. Finally, Boston Partners raised its holdings in 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 in the last quarter. 37.40% of the stock is owned by 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.