Analysts at StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Get Free Report) in a research report issued to clients and investors on Friday. The brokerage set a "buy" rating on the insurance provider's stock.
Global Indemnity Group Trading Up 2.0 %
Shares of NASDAQ GBLI traded up $0.67 during trading hours on Friday, hitting $34.75. 3,370 shares of the company traded hands, compared to its average volume of 2,255. The stock has a market capitalization of $472.60 million, a price-to-earnings ratio of 9.16 and a beta of 0.43. The company's 50 day moving average price is $33.45 and its 200 day moving average price is $32.06. Global Indemnity Group has a 12 month low of $26.50 and a 12 month high of $37.00.
Hedge Funds Weigh In On Global Indemnity Group
Several large investors have recently modified their holdings of GBLI. Innealta Capital LLC purchased a new stake in Global Indemnity Group during the second quarter worth about $55,000. Harbor Capital Advisors Inc. increased its position in shares of Global Indemnity Group by 223.7% during the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider's stock worth $892,000 after purchasing an additional 19,830 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Global Indemnity Group in the 1st quarter valued at about $2,488,000. Institutional investors and hedge funds 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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