StockNews.com Begins Coverage on Global Indemnity Group (NASDAQ:GBLI)

Research analysts at StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Get Free Report) in a research report issued 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 opened at $30.30 on Friday. The company has a 50-day moving average of $31.46 and a 200 day moving average of $33.99. The firm has a market cap of $432.02 million, a price-to-earnings ratio of 10.41 and a beta of 0.39. Global Indemnity Group has a 1 year low of $26.94 and a 1 year high of $37.00.

Insider Buying and Selling at Global Indemnity Group

In other news, Director Saul A. Fox acquired 22,400 shares of Global Indemnity Group stock in a transaction on Wednesday, May 14th. The stock was acquired at an average cost of $30.31 per share, for a total transaction of $678,944.00. Following the purchase, the director now owns 1,818,685 shares in the company, valued at $55,124,342.35. This trade represents a 1.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph W. Brown acquired 5,000 shares of Global Indemnity Group stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $28.45 per share, with a total value of $142,250.00. Following the completion of the purchase, the insider now owns 162,404 shares in the company, valued at $4,620,393.80. This represents a 3.18% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 40,300 shares of company stock worth $1,207,900. 52.50% of the stock is owned by corporate insiders.

Institutional Trading of Global Indemnity Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming increased its stake in Global Indemnity Group by 39.6% during the 1st quarter. State of Wyoming now owns 2,654 shares of the insurance provider's stock valued at $91,000 after purchasing an additional 753 shares in the last quarter. Boston Partners lifted 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 period. Cannell Capital LLC lifted its position in Global Indemnity Group by 23.1% during the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider's stock valued at $8,854,000 after purchasing an additional 46,167 shares during the period. Finally, Huber Capital Management LLC bought a new position in Global Indemnity Group during the fourth quarter valued at approximately $232,000. 37.40% of the stock is currently owned by institutional investors.

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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