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

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

Global Indemnity Group Trading Down 0.7 %

GBLI opened at $34.72 on Monday. The stock has a fifty day moving average price of $35.33 and a 200 day moving average price of $34.91. Global Indemnity Group has a 1 year low of $29.65 and a 1 year high of $37.00. The stock has a market cap of $494.97 million, a price-to-earnings ratio of 11.93 and a beta of 0.46.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 21st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.03%. The ex-dividend date was Friday, March 21st. Global Indemnity Group’s payout ratio is presently 44.87%.

Insider Buying and Selling at Global Indemnity Group

In related news, CEO Praveen Kotha Reddy bought 1,500 shares of Global Indemnity Group stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $35.96 per share, for a total transaction of $53,940.00. Following the acquisition, the chief executive officer now owns 1,500 shares in the company, valued at $53,940. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 52.80% of the company’s stock.

Institutional Investors Weigh In On Global Indemnity Group

A number of hedge funds have recently bought and sold shares of the company. 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. Cannell Capital LLC increased 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 worth $8,854,000 after buying an additional 46,167 shares during the period. Huber Capital Management LLC acquired a new position in shares of Global Indemnity Group during the fourth quarter worth approximately $232,000. Finally, Boston Partners boosted its position in shares of Global Indemnity Group by 34.9% in the fourth quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock valued at $3,742,000 after acquiring an additional 26,893 shares during the period. 37.40% of the stock is currently owned by institutional investors.

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.