Bruce Lederman Acquires 503 Shares of Global Indemnity Group (NASDAQ:GBLI) Stock

Key Points

• Director Bruce Lederman bought 503 shares on June 27 at an average price of $32.78 (total $16,488), increasing his direct holdings to 74,351 shares—about a 0.68% boost and roughly $2.44 million in value, per the SEC filing.
• Global Indemnity pays a quarterly dividend of $0.35 ($1.40 annual), representing a ~5.1% yield with a payout ratio of about 81.9%.
• Shares were trading at $27.55 (up $0.06) with a market cap of ~$395.4M, a P/E of 16.11 and a 52-week range of $25.88–$34.70; institutional ownership is ~37.4% and the consensus analyst rating is Hold.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) Director Bruce Lederman purchased 503 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were purchased at an average cost of $32.78 per share, for a total transaction of $16,488.34. Following the purchase, the director directly owned 74,351 shares in the company, valued at approximately $2,437,225.78. This represents a 0.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Global Indemnity Group Stock Up 0.2%

NASDAQ GBLI traded up $0.06 during mid-day trading on Thursday, hitting $27.55. The stock had a trading volume of 441 shares, compared to its average volume of 4,759. The company has a 50 day simple moving average of $28.39 and a 200 day simple moving average of $28.53. The company has a market cap of $395.37 million, a price-to-earnings ratio of 16.11 and a beta of 0.41. Global Indemnity Group, LLC has a 52-week low of $25.88 and a 52-week high of $34.70.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, March 20th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Friday, March 20th. Global Indemnity Group's dividend payout ratio is presently 81.87%.

Hedge Funds Weigh In On Global Indemnity Group

A number of institutional investors have recently made changes to their positions in the stock. State of Wyoming boosted its stake in shares of Global Indemnity Group by 23.8% during the fourth quarter. State of Wyoming now owns 4,898 shares of the insurance provider's stock valued at $139,000 after acquiring an additional 942 shares during the last quarter. Clearstead Advisors LLC increased its position in Global Indemnity Group by 190.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider's stock worth $41,000 after purchasing an additional 954 shares in the last quarter. Cove Street Capital LLC raised its stake in Global Indemnity Group by 5.6% in the 3rd quarter. Cove Street Capital LLC now owns 18,746 shares of the insurance provider's stock valued at $545,000 after purchasing an additional 1,000 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Global Indemnity Group by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 299,626 shares of the insurance provider's stock valued at $8,704,000 after purchasing an additional 1,191 shares in the last quarter. Finally, Cannell Capital LLC lifted its holdings in Global Indemnity Group by 1.4% in the 2nd quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider's stock valued at $8,853,000 after purchasing an additional 3,841 shares in the last quarter. 37.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Global Indemnity Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Global Indemnity Group currently has an average rating of "Hold".

Global Indemnity Group Company Profile

Global Indemnity Group NASDAQ: GBLI is a specialty property and casualty insurance holding company headquartered in Princeton, New Jersey. Through its subsidiaries, the company focuses on underwriting commercial niche insurance products designed to meet the needs of small to mid-sized businesses and select specialty markets. Its approach centers on disciplined underwriting, customized policy structures and targeted distribution channels to address coverage gaps often underserved by standard carriers.

The company's product portfolio encompasses surety and fidelity bonds, workers' compensation, general liability, commercial auto, professional liability and environmental liability.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.