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 - ) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 13,500 shares, an increase of 20.5% from the August 15th total of 11,200 shares. Approximately 0.2% of the company's shares are short sold. Based on an average trading volume of 3,000 shares, the short-interest ratio is currently 4.5 days. Based on an average trading volume of 3,000 shares, the short-interest ratio is currently 4.5 days. Approximately 0.2% of the company's shares are short sold.

Global Indemnity Group Stock Up 0.5%

Shares of GBLI traded up $0.15 during mid-day trading on Thursday, hitting $29.88. 435 shares of the company traded hands, compared to its average volume of 4,378. The business has a 50 day moving average of $30.12 and a 200 day moving average of $31.09. The company has a market capitalization of $427.16 million, a PE ratio of 10.27 and a beta of 0.44. Global Indemnity Group has a 1-year low of $26.94 and a 1-year high of $37.00.

Global Indemnity Group Announces Dividend

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

Insider Activity at Global Indemnity Group

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 shares were bought at an average cost of $28.30 per share, with a total value of $56,600.00. Following the transaction, the chief executive officer directly owned 5,100 shares of the company's stock, valued at $144,330. This trade represents a 64.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders purchased 2,206 shares of company stock valued at $62,572. 52.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Global Indemnity Group

A number of hedge funds have recently modified their holdings of the company. State of Wyoming grew its stake 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. Ameriprise Financial Inc. grew its holdings in shares of Global Indemnity Group by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 298,435 shares of the insurance provider's stock worth $9,359,000 after buying an additional 2,565 shares during the last quarter. Cannell Capital LLC raised its stake in shares of Global Indemnity Group by 1.4% during the second quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider's stock worth $8,853,000 after purchasing an additional 3,841 shares during the last quarter. Finally, 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 worth $4,507,000 after acquiring an additional 26,886 shares during the period. 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.

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