StockNews.com Initiates Coverage on Global Indemnity Group (NASDAQ:GBLI)

Analysts at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLIGet Rating) in a research report issued on Sunday. The firm set a “hold” rating on the insurance provider’s stock.

Global Indemnity Group Trading Up 0.8 %

Shares of NASDAQ GBLI opened at $24.09 on Friday. The firm has a market capitalization of $349.93 million, a PE ratio of -34.41 and a beta of 0.26. Global Indemnity Group has a 1 year low of $23.32 and a 1 year high of $27.99. The firm’s 50-day moving average is $25.51 and its 200-day moving average is $25.96.

Insider Activity

In other Global Indemnity Group news, insider David S. Charlton bought 5,000 shares of Global Indemnity Group stock in a transaction dated Friday, August 12th. The shares were bought at an average price of $25.24 per share, with a total value of $126,200.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at $126,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Global Indemnity Group news, insider David S. Charlton bought 5,000 shares of Global Indemnity Group stock in a transaction dated Friday, August 12th. The shares were bought at an average price of $25.24 per share, with a total value of $126,200.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at $126,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph W. Brown purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was purchased at an average price of $25.85 per share, for a total transaction of $258,500.00. Following the completion of the transaction, the director now directly owns 139,979 shares in the company, valued at $3,618,457.15. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 18,500 shares of company stock valued at $473,355. 44.20% of the stock is currently owned by insiders.

Institutional Trading of Global Indemnity Group

A number of hedge funds have recently modified their holdings of GBLI. Cullen Frost Bankers Inc. raised its position in shares of Global Indemnity Group by 22.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 11,000 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 2,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Global Indemnity Group by 7.1% in the 1st quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider’s stock valued at $2,195,000 after acquiring an additional 5,600 shares during the period. RBF Capital LLC acquired a new stake in shares of Global Indemnity Group in the 1st quarter valued at approximately $533,000. Berkley W R Corp acquired a new stake in shares of Global Indemnity Group in the 1st quarter valued at approximately $15,427,000. Finally, First Republic Investment Management Inc. acquired a new stake in Global Indemnity Group during the 2nd quarter worth approximately $259,000. 49.28% of the stock is currently owned by institutional investors and hedge funds.

Global Indemnity Group Company Profile

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Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance and reinsurance products worldwide. It operates through Commercial Specialty; Farm, Ranch, & Stable; and Reinsurance Operations segments. The Commercial Specialty segment distributes property, general liability, casualty, and professional lines products.

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