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

StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Free Report) in a research note issued to investors on Thursday morning. The brokerage issued a buy rating on the insurance provider's stock.

Global Indemnity Group Stock Down 0.6 %

Shares of NASDAQ GBLI traded down $0.18 during trading on Thursday, reaching $28.87. The company had a trading volume of 1,631 shares, compared to its average volume of 3,741. Global Indemnity Group has a 12-month low of $28.15 and a 12-month high of $37.00. The stock has a market cap of $411.61 million, a PE ratio of 9.92 and a beta of 0.29. The business's 50-day moving average is $32.93 and its 200 day moving average is $34.44.

Global Indemnity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 21st were given a dividend of $0.35 per share. The ex-dividend date was Friday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 4.85%. Global Indemnity Group's dividend payout ratio (DPR) is presently 44.87%.

Insider Activity at Global Indemnity Group

In other Global Indemnity Group news, CEO Praveen Kotha Reddy acquired 1,500 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were bought 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 directly owns 1,500 shares of the company's stock, valued at approximately $53,940. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 52.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GBLI. Cannell Capital LLC boosted its position in Global Indemnity Group by 23.1% in the fourth 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 last quarter. Boston Partners boosted its position in Global Indemnity Group by 34.9% in the fourth 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 last quarter. Huber Capital Management LLC purchased a new position in Global Indemnity Group in the fourth quarter worth about $232,000. Finally, State of Wyoming boosted its position in Global Indemnity Group by 56.3% in the fourth 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 last quarter. 37.40% of the stock is owned by hedge funds and other institutional investors.

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.