Global Indemnity Group (NASDAQ:GBLI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Global Indemnity Group, LLC (NASDAQ:GBLI) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $34.59 and traded as high as $36.04. Global Indemnity Group shares last traded at $35.68, with a volume of 20,351 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Global Indemnity Group in a report on Saturday. They set a “buy” rating on the stock.

Global Indemnity Group Price Performance

The stock’s fifty day moving average price is $35.27 and its 200-day moving average price is $34.61. The firm has a market cap of $488.32 million, a price-to-earnings ratio of 12.26 and a beta of 0.46.

Global Indemnity Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 21st will be paid a $0.35 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.40 annualized dividend and a yield of 3.92%. Global Indemnity Group’s dividend payout ratio is presently 44.87%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GBLI. Cannell Capital LLC increased its stake in Global Indemnity Group by 23.1% in 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 period. Boston Partners increased 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 buying an additional 26,893 shares during the period. Huber Capital Management LLC acquired a new position in Global Indemnity Group in the 4th quarter valued at approximately $232,000. Finally, State of Wyoming increased its stake 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 buying an additional 685 shares during the period. 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.