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 report released on Sunday. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

GBLI opened at $30.30 on Friday. The business has a 50 day simple moving average of $31.46 and a 200-day simple moving average of $33.99. The stock has a market capitalization of $432.02 million, a P/E ratio of 10.41 and a beta of 0.39. Global Indemnity Group has a 12 month low of $26.94 and a 12 month high of $37.00.

Global Indemnity Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 4.62%. Global Indemnity Group’s dividend payout ratio is currently 70.00%.

Insider Activity

In other Global Indemnity Group news, Director Saul A. Fox purchased 11,400 shares of Global Indemnity Group stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average cost of $29.19 per share, with a total value of $332,766.00. Following the acquisition, the director now directly owns 1,796,285 shares of the company’s stock, valued at $52,433,559.15. This represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Praveen Kotha Reddy acquired 1,500 shares of Global Indemnity Group stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $35.96 per share, with a total value of $53,940.00. Following the completion of the acquisition, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $53,940. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 40,300 shares of company stock valued at $1,207,900 in the last three months. 52.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently bought and sold shares of GBLI. Boston Partners raised its holdings 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 purchasing an additional 26,893 shares during the last quarter. Huber Capital Management LLC acquired a new position in Global Indemnity Group during the fourth quarter worth $232,000. Cannell Capital LLC raised its holdings in Global Indemnity Group by 23.1% during the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after purchasing an additional 46,167 shares during the last quarter. Finally, State of Wyoming raised its holdings in Global Indemnity Group by 56.3% during the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 685 shares during the last quarter. 37.40% of the stock is owned by institutional investors and hedge funds.

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.