Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report issued on Tuesday morning. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

NASDAQ:GBLI opened at $30.20 on Tuesday. Global Indemnity Group has a 52-week low of $28.75 and a 52-week high of $37.00. The stock has a fifty day moving average of $34.51 and a 200 day moving average of $34.79. The firm has a market capitalization of $430.52 million, a price-to-earnings ratio of 10.38 and a beta of 0.29.

Global Indemnity Group Announces Dividend

The business 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. This represents a $1.40 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Friday, March 21st. Global Indemnity Group’s dividend payout ratio (DPR) is 44.87%.

Insider Activity at Global Indemnity Group

In related news, CEO Praveen Kotha Reddy purchased 1,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were purchased 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 directly owns 1,500 shares of the company’s stock, valued at approximately $53,940. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 52.80% of the stock is currently owned by insiders.

Institutional Trading of Global Indemnity Group

A number of hedge funds have recently made changes to their positions in the stock. Boston Partners increased its stake in Global Indemnity Group by 34.9% in the fourth 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 last quarter. Cannell Capital LLC raised its holdings 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 in the last quarter. Huber Capital Management LLC bought a new stake in Global Indemnity Group in the 4th quarter worth approximately $232,000. Finally, State of Wyoming boosted 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 worth $68,000 after buying an additional 685 shares in the last quarter. 37.40% of the stock is owned by 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.