Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

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

Global Indemnity Group Trading Up 0.4 %

Global Indemnity Group stock opened at $35.69 on Friday. The firm has a market capitalization of $488.52 million, a P/E ratio of 12.26 and a beta of 0.46. Global Indemnity Group has a twelve month low of $28.37 and a twelve month high of $37.00. The stock’s fifty day simple moving average is $35.24 and its 200-day simple moving average is $34.65.

Global Indemnity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 21st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, March 21st. Global Indemnity Group’s payout ratio is presently 44.87%.

Institutional Trading of Global Indemnity Group

A number of large investors have recently made changes to their positions in GBLI. Cannell Capital LLC lifted its stake in Global Indemnity Group by 23.1% in the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after acquiring an additional 46,167 shares during the last quarter. Boston Partners lifted its position in shares of Global Indemnity Group by 34.9% during 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. Huber Capital Management LLC purchased a new stake in shares of Global Indemnity Group during the 4th quarter worth $232,000. Finally, State of Wyoming increased its holdings in Global Indemnity Group by 56.3% in the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after buying an additional 685 shares during the last quarter. 37.40% of the stock is currently owned by hedge funds and other 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.