StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Get Free Report) in a report released on Saturday. The brokerage set a "buy" rating on the insurance provider's stock.
Global Indemnity Group Price Performance
GBLI stock traded up $1.35 during midday trading on Friday, hitting $29.88. The stock had a trading volume of 27,604 shares, compared to its average volume of 3,896. The company's 50-day moving average price is $31.86 and its 200 day moving average price is $34.10. The firm has a market cap of $426.03 million, a PE ratio of 10.27 and a beta of 0.39. Global Indemnity Group has a 12-month low of $26.94 and a 12-month high of $37.00.
Insider Activity
In related news, CEO Praveen Kotha Reddy bought 1,500 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $35.96 per share, with a total value 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 approximately $53,940. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 52.80% of the company's stock.
Hedge Funds Weigh In On Global Indemnity Group
A number of large investors have recently bought and sold shares of the stock. State of Wyoming increased its holdings in shares of 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 buying an additional 685 shares during the last quarter. Huber Capital Management LLC purchased a new position in shares of Global Indemnity Group in the 4th quarter worth about $232,000. Boston Partners lifted its stake in shares of Global Indemnity Group by 34.9% in the 4th quarter. Boston Partners now owns 103,947 shares of the insurance provider's stock valued at $3,742,000 after purchasing an additional 26,893 shares in the last quarter. Finally, Cannell Capital LLC grew its holdings in shares of Global Indemnity Group by 23.1% during the 4th quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider's stock worth $8,854,000 after purchasing an additional 46,167 shares during the period. Hedge funds and other institutional investors own 37.40% of the company's stock.
About Global Indemnity Group
(
Get Free Report)
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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