Global Indemnity Group, LLC (NASDAQ:GBLI) Short Interest Up 20.5% in August

Key Points

• Global Indemnity Group, LLC (NASDAQ:GBLI) experienced a 20.5% increase in short interest for August, bringing the total to 13,500 shares against an average trading volume of 3,000 shares.
• The company declared a quarterly dividend of $0.35 per share, scheduled for payment on October 6th, which represents a dividend yield of 4.7%.
• Insider activity includes CEO Praveen Kotha Reddy purchasing 2,000 shares at $28.30 each, increasing his stake significantly to a total of 5,100 shares.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 13,500 shares, a growth of 20.5% from the August 15th total of 11,200 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 3,000 shares, the days-to-cover ratio is currently 4.5 days. Based on an average daily trading volume, of 3,000 shares, the days-to-cover ratio is currently 4.5 days. Currently, 0.2% of the shares of the company are sold short.

Global Indemnity Group Stock Up 0.7%

GBLI traded up $0.21 during trading on Monday, hitting $30.09. The company's stock had a trading volume of 966 shares, compared to its average volume of 4,355. The firm's 50 day moving average price is $30.09 and its two-hundred day moving average price is $30.98. Global Indemnity Group has a 12 month low of $26.94 and a 12 month high of $37.00. The stock has a market capitalization of $430.15 million, a price-to-earnings ratio of 10.34 and a beta of 0.44.

Global Indemnity Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Monday, September 29th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, September 29th. Global Indemnity Group's dividend payout ratio is currently 70.71%.

Insider Transactions at Global Indemnity Group

In other Global Indemnity Group news, CEO Praveen Kotha Reddy bought 2,000 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $28.30 per share, with a total value of $56,600.00. Following the acquisition, the chief executive officer directly owned 5,100 shares of the company's stock, valued at $144,330. This represents a 64.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 2,206 shares of company stock valued at $62,572. Company insiders own 52.50% of the company's stock.

Institutional Investors Weigh In On Global Indemnity Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming grew its stake in Global Indemnity Group by 56.3% in the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider's stock valued at $68,000 after acquiring an additional 685 shares during the period. Boston Partners boosted its position in 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 purchasing an additional 26,886 shares during the last quarter. Cannell Capital LLC boosted its position in Global Indemnity Group by 1.4% during the second 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 during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Global Indemnity Group by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 298,435 shares of the insurance provider's stock valued at $9,359,000 after purchasing an additional 2,565 shares during the last quarter. 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.