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

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI - Free Report) in a research report report published on Friday morning. The firm issued a buy rating on the insurance provider's stock.

Global Indemnity Group Price Performance

NASDAQ GBLI traded down $1.33 during mid-day trading on Friday, reaching $27.67. The stock had a trading volume of 5,274 shares, compared to its average volume of 3,776. The company has a fifty day moving average price of $32.23 and a 200 day moving average price of $34.22. Global Indemnity Group has a 1 year low of $26.94 and a 1 year high of $37.00. The stock has a market cap of $394.52 million, a PE ratio of 9.51 and a beta of 0.39.

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 issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.40 annualized dividend and a yield of 5.06%. Global Indemnity Group's payout ratio is 44.87%.

Insider Buying and Selling at Global Indemnity Group

In other news, CEO Praveen Kotha Reddy purchased 1,500 shares of the company's stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $35.96 per share, for a total transaction of $53,940.00. Following the purchase, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $53,940. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 52.80% of the company's stock.

Institutional Investors Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cannell Capital LLC boosted its stake 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 acquiring an additional 46,167 shares during the last quarter. Boston Partners raised its holdings in Global Indemnity Group by 34.9% in 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. Huber Capital Management LLC purchased a new position in Global Indemnity Group during the fourth quarter valued at $232,000. Finally, State of Wyoming grew its holdings in Global Indemnity Group by 56.3% during the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider's stock valued at $68,000 after purchasing an additional 685 shares during the period. Hedge funds and other institutional investors own 37.40% of the company's stock.

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.