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

Equities research analysts at StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued to investors on Wednesday. The firm set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Trading Up 0.5 %

Shares of NASDAQ GBLI opened at $29.98 on Wednesday. The company has a market capitalization of $427.38 million, a price-to-earnings ratio of 10.30 and a beta of 0.29. The firm has a 50-day moving average of $33.97 and a two-hundred day moving average of $34.68. Global Indemnity Group has a twelve month low of $28.75 and a twelve month high of $37.00.

Insider Buying and Selling

In other news, CEO Praveen Kotha Reddy bought 1,500 shares of the company’s stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $35.96 per share, with a total value of $53,940.00. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $53,940. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 52.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State of Wyoming lifted its position 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 worth $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 worth $3,742,000 after purchasing 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% 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 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.