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

Analysts at StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report issued on Thursday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Trading Up 2.9 %

Shares of GBLI opened at $34.38 on Thursday. Global Indemnity Group has a 52 week low of $28.37 and a 52 week high of $37.00. The firm has a market cap of $470.53 million, a price-to-earnings ratio of 11.81 and a beta of 0.42. The stock has a 50 day moving average of $35.44 and a 200-day moving average of $34.34.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GBLI. Boston Partners raised its stake 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 worth $3,742,000 after buying an additional 26,893 shares in the last quarter. Huber Capital Management LLC bought a new stake in shares of Global Indemnity Group in the 4th quarter worth $232,000. Cannell Capital LLC raised its stake in shares of Global Indemnity Group by 23.1% in the 4th quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after buying an additional 46,167 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Global Indemnity Group by 56.3% in the 4th 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. Institutional investors and hedge funds own 37.40% of the company’s stock.

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.