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

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

Global Indemnity Group Stock Performance

GBLI stock opened at $28.81 on Thursday. The firm has a market cap of $410.72 million, a P/E ratio of 9.90 and a beta of 0.29. The stock’s 50 day moving average price is $33.20 and its 200 day moving average price is $34.50. Global Indemnity Group has a 1 year low of $28.15 and a 1 year high of $37.00.

Global Indemnity Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 21st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.86%. Global Indemnity Group’s dividend payout ratio is presently 44.87%.

Insider Buying and Selling at Global Indemnity Group

In other Global Indemnity Group news, CEO Praveen Kotha Reddy bought 1,500 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were bought at an average price of $35.96 per share, for a total transaction of $53,940.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 52.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Indemnity Group

Large investors have recently bought and sold shares of the business. State of Wyoming grew its position in Global Indemnity Group by 56.3% in 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 grew its holdings in shares of Global Indemnity Group by 23.1% during the 4th quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after purchasing an additional 46,167 shares in the last quarter. Huber Capital Management LLC bought a new stake in shares of Global Indemnity Group during the fourth quarter valued at approximately $232,000. Finally, Boston Partners raised its stake 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 purchasing an additional 26,893 shares in the last quarter. 37.40% of the stock is currently owned by 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.