Global Indemnity Group (NASDAQ:GBLI) Now Covered by Analysts at StockNews.com

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

Global Indemnity Group Trading Down 1.7 %

Shares of GBLI stock opened at $36.04 on Friday. The stock has a 50 day moving average of $35.25 and a two-hundred day moving average of $34.77. Global Indemnity Group has a 12 month low of $28.62 and a 12 month high of $37.00. The company has a market capitalization of $493.25 million, a P/E ratio of 12.38 and a beta of 0.46.

Global Indemnity Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 21st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 3.89%. Global Indemnity Group’s dividend payout ratio (DPR) is presently 44.87%.

Insider Buying and Selling

In related news, CEO Praveen Kotha Reddy bought 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $35.96 per share, for a total transaction of $53,940.00. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $53,940. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 52.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming raised its position in Global Indemnity Group by 56.3% in 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 during the last quarter. Huber Capital Management LLC bought a new position in Global Indemnity Group in the 4th quarter valued at $232,000. Boston Partners raised its position in 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 purchasing an additional 26,893 shares during the last quarter. Finally, Cannell Capital LLC raised its position in Global Indemnity Group by 23.1% in the 4th quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock valued at $8,854,000 after purchasing an additional 46,167 shares during the last quarter. Institutional investors 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.