Global Indemnity Group (NASDAQ:GBLI) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Global Indemnity Group, LLC (NASDAQ:GBLI)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $34.59 and traded as high as $36.04. Global Indemnity Group shares last traded at $35.68, with a volume of 20,351 shares.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Global Indemnity Group in a research report on Saturday. They issued a “buy” rating for the company.

Global Indemnity Group Price Performance

The company has a market cap of $488.32 million, a price-to-earnings ratio of 12.26 and a beta of 0.46. The firm has a fifty day simple moving average of $35.27 and a 200 day simple moving average of $34.59.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, March 21st. Global Indemnity Group’s payout ratio is 44.87%.

Institutional Investors Weigh In On Global Indemnity Group

Large investors have recently bought and sold shares of the business. State of Wyoming lifted its holdings in shares of Global Indemnity Group by 56.3% during the 4th 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 in the last quarter. Huber Capital Management LLC bought a new position in shares of Global Indemnity Group in the 4th quarter valued at about $232,000. Boston Partners increased its position in Global Indemnity Group by 34.9% during the fourth 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 during the last quarter. Finally, Cannell Capital LLC boosted its stake 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 worth $8,854,000 after acquiring an additional 46,167 shares during the period. 37.40% of the stock is currently 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.