Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Free Report) in a research report sent to investors on Monday morning. The firm issued a buy rating on the insurance provider's stock.

Global Indemnity Group Stock Down 1.3 %

GBLI traded down $0.43 on Monday, hitting $33.97. 6,591 shares of the company traded hands, compared to its average volume of 3,604. Global Indemnity Group has a 12-month low of $29.65 and a 12-month high of $37.00. The company has a 50 day moving average of $35.29 and a 200-day moving average of $34.90. The stock has a market capitalization of $484.34 million, a PE ratio of 11.67 and a beta of 0.29.

Global Indemnity Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 21st were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.40 dividend on an annualized basis and a yield of 4.12%. Global Indemnity Group's dividend payout ratio (DPR) is 44.87%.

Insider Buying and Selling at Global Indemnity Group

In other Global Indemnity Group news, CEO Praveen Kotha Reddy acquired 1,500 shares of the stock in a transaction on Friday, March 14th. The shares were bought at an average price of $35.96 per share, with a total value of $53,940.00. Following the acquisition, the chief executive officer now owns 1,500 shares of the company's stock, valued at $53,940. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 52.80% of the stock is currently owned by corporate insiders.

Remove Ads

Institutional Trading of Global Indemnity Group

Several hedge funds have recently modified their holdings of GBLI. State of Wyoming grew its holdings in Global Indemnity Group by 56.3% during the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider's stock worth $68,000 after acquiring an additional 685 shares during the period. Huber Capital Management LLC acquired a new position in shares of Global Indemnity Group during the 4th quarter worth $232,000. Boston Partners increased its holdings in shares of 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 purchasing an additional 26,893 shares in the last quarter. Finally, Cannell Capital LLC boosted its holdings 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. 37.40% of the stock is owned by institutional investors and hedge funds.

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.