Global Indemnity Group (NASDAQ:GBLI) Sees Large Volume Increase - Time to Buy?

Shares of Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) saw an uptick in trading volume on Tuesday . 2,803 shares changed hands during trading, a decline of 24% from the previous session's volume of 3,676 shares.The stock last traded at $36.11 and had previously closed at $36.00.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Global Indemnity Group in a research note on Sunday, March 23rd. They issued a "buy" rating for the company.

Global Indemnity Group Trading Down 1.1 %

The firm has a market capitalization of $490.48 million, a P/E ratio of 11.82 and a beta of 0.46. The stock's 50-day simple moving average is $35.38 and its 200-day simple moving average is $34.85.

Global Indemnity Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 21st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Friday, March 21st. Global Indemnity Group's payout ratio is 44.87%.

Insider Buying and Selling

In related news, CEO Praveen Kotha Reddy purchased 1,500 shares of Global Indemnity Group stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $35.96 per share, for a total transaction of $53,940.00. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $53,940. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 52.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GBLI. State of Wyoming lifted its stake in 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 purchasing an additional 685 shares during the last quarter. Cannell Capital LLC lifted its position in shares of Global Indemnity Group by 23.1% during 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 last quarter. Huber Capital Management LLC purchased a new stake in Global Indemnity Group in the 4th quarter worth about $232,000. Finally, Boston Partners raised its stake 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 during the period. 37.40% of the stock is currently owned by hedge funds and other institutional investors.

About Global Indemnity Group

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.