Cove Street Capital LLC Trims Stake in Global Indemnity Group, LLC $GBLI

Key Points

• Cove Street Capital LLC has reduced its stake in Global Indemnity Group, LLC by 20.5%, now holding 35,443 shares worth approximately $1.22 million.
• The State of Wyoming increased its holdings in Global Indemnity Group by 56.3%, acquiring 1,901 shares valued at $68,000.
• CEO Praveen Kotha Reddy purchased 2,000 shares at an average price of $28.30, raising his total ownership to 5,100 shares valued around $144,330.

Cove Street Capital LLC reduced its position in shares of Global Indemnity Group, LLC (NASDAQ:GBLI - Free Report) by 20.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,443 shares of the insurance provider's stock after selling 9,112 shares during the quarter. Global Indemnity Group accounts for about 1.9% of Cove Street Capital LLC's investment portfolio, making the stock its 21st biggest holding. Cove Street Capital LLC owned 0.25% of Global Indemnity Group worth $1,221,000 at the end of the most recent reporting period.

Separately, Boston Partners grew its holdings in shares of Global Indemnity Group by 25.9% during the first quarter. Boston Partners now owns 130,833 shares of the insurance provider's stock valued at $4,507,000 after buying an additional 26,886 shares during the last quarter. Institutional investors own 37.40% of the company's stock.

Insider Buying and Selling

In other news, CEO Praveen Kotha Reddy acquired 2,000 shares of Global Indemnity Group stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $28.30 per share, for a total transaction of $56,600.00. Following the completion of the transaction, the chief executive officer owned 5,100 shares in the company, valued at $144,330. The trade was a 64.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 2,206 shares of company stock worth $62,572 in the last three months. 52.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on shares of Global Indemnity Group in a report on Sunday, May 18th. They issued a "buy" rating for the company.

Global Indemnity Group Stock Down 1.6%

GBLI traded down $0.48 during mid-day trading on Monday, reaching $29.52. 5,878 shares of the company traded hands, compared to its average volume of 4,493. The company's fifty day moving average price is $30.35 and its 200-day moving average price is $31.31. The stock has a market capitalization of $422.03 million, a P/E ratio of 10.14 and a beta of 0.44. Global Indemnity Group, LLC has a 52-week low of $26.94 and a 52-week high of $37.00.

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.