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

Analysts at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued on Sunday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 3.6%

Shares of GBLI opened at $31.08 on Friday. The stock has a 50 day moving average price of $31.37 and a 200 day moving average price of $33.97. The company has a market capitalization of $443.14 million, a price-to-earnings ratio of 10.68 and a beta of 0.39. Global Indemnity Group has a 52-week low of $26.94 and a 52-week high of $37.00.

Insider Activity

In other Global Indemnity Group news, CEO Praveen Kotha Reddy acquired 1,500 shares of the business’s stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $35.96 per share, for a total transaction of $53,940.00. Following the completion of the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $53,940. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Saul A. Fox acquired 22,400 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $30.31 per share, with a total value of $678,944.00. Following the transaction, the director now directly owns 1,818,685 shares of the company’s stock, valued at $55,124,342.35. This represents a 1.25% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 40,300 shares of company stock valued at $1,207,900. 52.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State of Wyoming increased its position in Global Indemnity Group by 56.3% during 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 in the last quarter. Huber Capital Management LLC purchased a new stake in Global Indemnity Group in the 4th quarter valued at about $232,000. Boston Partners lifted its stake in shares of Global Indemnity Group by 25.9% in the 1st quarter. Boston Partners now owns 130,833 shares of the insurance provider’s stock valued at $4,507,000 after purchasing an additional 26,886 shares in the last quarter. Finally, Cannell Capital LLC lifted its stake 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 purchasing an additional 46,167 shares in the last quarter. Hedge funds and other institutional investors own 37.40% of the company’s stock.

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.