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

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

Global Indemnity Group Price Performance

NASDAQ GBLI traded up $0.25 on Friday, hitting $35.00. 3,367 shares of the stock were exchanged, compared to its average volume of 4,118. The company has a market capitalization of $476 million, a PE ratio of 12.03 and a beta of 0.43. The business’s fifty day moving average is $33.51 and its 200 day moving average is $32.08. Global Indemnity Group has a 52 week low of $26.50 and a 52 week high of $37.00.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.35 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 4.00%. Global Indemnity Group’s dividend payout ratio is 48.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Partners bought a new position in Global Indemnity Group during the 1st quarter worth $2,488,000. Harbor Capital Advisors Inc. lifted its position in shares of Global Indemnity Group by 223.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after buying an additional 19,830 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Global Indemnity Group in the second quarter valued at about $55,000. 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.