StockNews.com Begins Coverage on Global Indemnity Group (NASDAQ:GBLI)

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

Global Indemnity Group Stock Down 1.0%

Shares of Global Indemnity Group stock opened at $28.22 on Friday. The stock has a market capitalization of $402.35 million, a P/E ratio of 9.70 and a beta of 0.39. The company has a 50-day simple moving average of $31.86 and a 200 day simple moving average of $34.10. Global Indemnity Group has a 12-month low of $26.94 and a 12-month high of $37.00.

Global Indemnity Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 21st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Friday, March 21st. Global Indemnity Group’s dividend payout ratio is 70.00%.

Insider Transactions at Global Indemnity Group

In related news, CEO Praveen Kotha Reddy purchased 1,500 shares of Global Indemnity Group stock in a transaction dated Friday, March 14th. The stock was bought at an average price of $35.96 per share, for a total transaction of $53,940.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $53,940. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.80% of the stock is owned by corporate insiders.

Institutional Trading of Global Indemnity Group

A number of large investors have recently added to or reduced their stakes in GBLI. Cannell Capital LLC lifted its stake 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 buying an additional 46,167 shares during the last quarter. Boston Partners increased its holdings in Global Indemnity Group by 34.9% in the 4th quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock valued at $3,742,000 after buying an additional 26,893 shares during the period. Huber Capital Management LLC bought a new position in Global Indemnity Group in the 4th quarter valued at about $232,000. Finally, State of Wyoming increased its holdings 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 valued at $68,000 after buying an additional 685 shares during the period. Institutional investors and hedge funds 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.