Global Indemnity Group (NASDAQ:GBLI) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note published on Saturday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 2.9 %

Global Indemnity Group stock opened at $35.00 on Friday. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $37.00. The firm’s fifty day moving average is $33.70 and its 200 day moving average is $32.17. The company has a market capitalization of $479.15 million, a PE ratio of 12.03 and a beta of 0.43.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 4.00%. Global Indemnity Group’s payout ratio is 48.11%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Boston Partners bought a new stake in shares of Global Indemnity Group in the 1st quarter worth $2,488,000. Harbor Capital Advisors Inc. grew its stake in shares of Global Indemnity Group by 223.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after acquiring an additional 19,830 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Global Indemnity Group in the 2nd quarter worth $55,000. Institutional investors and hedge funds own 37.40% of the company’s stock.

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.