Insider Buying: Global Indemnity Group, LLC (NASDAQ:GBLI) CEO Acquires 2,000 Shares of Stock

Key Points

• CEO Praveen Kotha Reddy of Global Indemnity Group acquired 2,000 shares at an average cost of $28.30, increasing their total holdings to 5,100 shares, a 64.52% increase.
• The company recently paid a quarterly dividend of $0.35, resulting in an annualized dividend yield of 4.9%.
• Institutional investors, including the State of Wyoming, have increased their stake in Global Indemnity Group by 56.3%, highlighting growing interest from the investment community.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) CEO Praveen Kotha Reddy purchased 2,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $28.30 per share, with a total value of $56,600.00. Following the purchase, the chief executive officer owned 5,100 shares in the company, valued at $144,330. This represents a 64.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Global Indemnity Group Stock Performance

Shares of Global Indemnity Group stock traded down $0.25 during trading on Monday, reaching $28.37. 9,203 shares of the company's stock were exchanged, compared to its average volume of 4,552. The firm's 50-day moving average price is $31.21 and its 200 day moving average price is $32.16. Global Indemnity Group, LLC has a 1-year low of $26.94 and a 1-year high of $37.00. The company has a market cap of $404.44 million, a P/E ratio of 9.75 and a beta of 0.44.

Global Indemnity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 20th were issued a $0.35 dividend. The ex-dividend date was Friday, June 20th. This represents a $1.40 annualized dividend and a dividend yield of 4.9%. Global Indemnity Group's payout ratio is currently 70.71%.

Analyst Ratings Changes

Separately, Wall Street Zen started coverage on Global Indemnity Group in a research note on Sunday, May 18th. They issued a "buy" rating on the stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Global Indemnity Group stock. State of Wyoming increased its holdings in Global Indemnity Group, LLC (NASDAQ:GBLI - Free Report) by 56.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,901 shares of the insurance provider's stock after buying an additional 685 shares during the quarter. State of Wyoming's holdings in Global Indemnity Group were worth $68,000 at the end of the most recent reporting period. 37.40% of the stock is owned by institutional investors and hedge funds.

About Global Indemnity Group

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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