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

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

Global Indemnity Group Stock Up 0.4 %

Shares of Global Indemnity Group stock opened at $35.69 on Friday. The firm has a market cap of $488.52 million, a PE ratio of 12.26 and a beta of 0.46. Global Indemnity Group has a 52 week low of $28.37 and a 52 week high of $37.00. The business’s fifty day simple moving average is $35.24 and its 200-day simple moving average is $34.65.

Global Indemnity Group Dividend Announcement

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

Hedge Funds Weigh In On Global Indemnity Group

Several large investors have recently made changes to their positions in GBLI. State of Wyoming raised its position 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 valued at $68,000 after purchasing an additional 685 shares during the period. Huber Capital Management LLC acquired a new stake in shares of Global Indemnity Group in the fourth quarter valued at $232,000. Boston Partners raised 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 buying an additional 26,893 shares during the period. Finally, Cannell Capital LLC lifted its stake in Global Indemnity Group by 23.1% during the 4th quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after acquiring an additional 46,167 shares in the last quarter. 37.40% of the stock is currently 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.