Wall Street Zen Initiates Coverage on Global Indemnity Group (NASDAQ:GBLI)

Equities research analysts at Wall Street Zen initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Get Free Report) in a research note issued to investors on Sunday. The firm set a "buy" rating on the insurance provider's stock.

Global Indemnity Group Price Performance

Shares of Global Indemnity Group stock traded down $0.53 during trading hours on Friday, hitting $30.26. The company had a trading volume of 1,978 shares, compared to its average volume of 4,052. The company's 50-day moving average is $30.96 and its two-hundred day moving average is $33.88. Global Indemnity Group has a twelve month low of $26.94 and a twelve month high of $37.00. The company has a market cap of $431.38 million, a P/E ratio of 10.40 and a beta of 0.39.

Insider Activity

In other Global Indemnity Group news, insider Joseph W. Brown purchased 5,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $28.45 per share, for a total transaction of $142,250.00. Following the purchase, the insider now directly owns 162,404 shares in the company, valued at approximately $4,620,393.80. This trade represents a 3.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Praveen Kotha Reddy purchased 1,500 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $35.96 per share, with a total value of $53,940.00. Following the purchase, the chief executive officer now owns 1,500 shares in the company, valued at $53,940. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 50,300 shares of company stock worth $1,525,800. Corporate insiders own 52.50% of the company's stock.

Institutional Trading of Global Indemnity Group

A number of large investors have recently bought and sold shares of GBLI. State of Wyoming boosted 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 during the period. Huber Capital Management LLC acquired a new stake in Global Indemnity Group during the 4th quarter worth $232,000. Boston Partners boosted its stake in Global Indemnity Group by 34.9% during the 4th quarter. Boston Partners now owns 103,947 shares of the insurance provider's stock worth $3,742,000 after purchasing an additional 26,893 shares during the period. Finally, Cannell Capital LLC boosted its stake in 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. Institutional investors and hedge funds own 37.40% of the company's stock.

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.