Global Indemnity Group, LLC (NASDAQ:GBLI) CEO Praveen Kotha Reddy Acquires 1,500 Shares of Stock

Global Indemnity Group, LLC (NASDAQ:GBLI) CEO Praveen Kotha Reddy acquired 1,500 shares of Global Indemnity Group stock in a transaction 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 purchase, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $53,940. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Global Indemnity Group Price Performance

NASDAQ GBLI opened at $35.94 on Wednesday. The company has a 50 day simple moving average of $35.24 and a 200-day simple moving average of $34.68. The firm has a market capitalization of $491.93 million, a price-to-earnings ratio of 12.35 and a beta of 0.46. Global Indemnity Group, LLC has a 52-week low of $28.37 and a 52-week high of $37.00.

Global Indemnity Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 21st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, March 21st. Global Indemnity Group’s dividend payout ratio (DPR) is 44.87%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Global Indemnity Group in a research note on Saturday. They set a “buy” rating for the company.

Institutional Trading of Global Indemnity Group

A number of hedge funds have recently made changes to their positions in GBLI. State of Wyoming lifted its position in shares of Global Indemnity Group by 56.3% in 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 in the last quarter. Huber Capital Management LLC purchased a new stake in shares of Global Indemnity Group in the fourth quarter worth approximately $232,000. Boston Partners raised its position in Global Indemnity Group by 34.9% during 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 in the last quarter. Finally, Cannell Capital LLC raised its position 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 valued at $8,854,000 after acquiring an additional 46,167 shares in the last quarter. 37.40% of the stock is owned by hedge funds and other institutional investors.

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.