Global Indemnity Group (NASDAQ:GBLI) Sees Large Volume Increase – Here’s What Happened

Shares of Global Indemnity Group, LLC (NASDAQ:GBLI) saw strong trading volume on Monday . 6,026 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 4,125 shares.The stock last traded at $36.71 and had previously closed at $36.39.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Global Indemnity Group in a research note on Sunday. They issued a “buy” rating on the stock.

Global Indemnity Group Trading Up 1.0 %

The company has a market cap of $503.03 million, a P/E ratio of 12.51 and a beta of 0.43. The company has a 50 day moving average price of $34.08 and a 200-day moving average price of $32.30.

Global Indemnity Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a dividend of $0.35 per share. The ex-dividend date was Monday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 3.81%. Global Indemnity Group’s dividend payout ratio is currently 48.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GBLI. Boston Partners acquired a new position in shares of Global Indemnity Group in the 1st quarter valued at about $2,488,000. Harbor Capital Advisors Inc. increased its position in 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 valued at $892,000 after buying an additional 19,830 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in Global Indemnity Group in the 2nd quarter valued at about $55,000. 37.40% of the stock is owned by institutional investors and hedge funds.

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.