Global Indemnity Group (NASDAQ:GBLI) Research Coverage Started at StockNews.com

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

Global Indemnity Group Price Performance

Shares of GBLI stock opened at $36.12 on Friday. The stock has a market capitalization of $515.00 million, a price-to-earnings ratio of 12.41 and a beta of 0.46. The company’s fifty day simple moving average is $35.33 and its two-hundred day simple moving average is $34.82. Global Indemnity Group has a 1 year low of $28.62 and a 1 year high of $37.00.

Global Indemnity Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, March 21st. Global Indemnity Group’s payout ratio is presently 44.87%.

Insider Activity

In other news, CEO Praveen Kotha Reddy purchased 1,500 shares of Global Indemnity Group stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $53,940. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 52.80% of the company’s stock.

Institutional Investors Weigh In On Global Indemnity Group

Several large investors have recently added to or reduced their stakes in GBLI. Cannell Capital LLC raised its holdings 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 acquiring an additional 46,167 shares in the last quarter. Boston Partners grew its holdings in shares of 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 in the last quarter. Huber Capital Management LLC bought a new position in shares of Global Indemnity Group in the fourth quarter worth approximately $232,000. Finally, State of Wyoming lifted its position 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 valued at $68,000 after purchasing an additional 685 shares during the last quarter. Institutional investors own 37.40% of the company’s stock.

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.