Global Indemnity Group (NASDAQ:GBLI) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued to investors on Thursday morning. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

GBLI opened at $28.81 on Thursday. The firm has a market cap of $410.72 million, a PE ratio of 9.90 and a beta of 0.29. Global Indemnity Group has a twelve month low of $28.15 and a twelve month high of $37.00. The firm’s fifty day moving average is $33.20 and its two-hundred day moving average is $34.50.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.86%. Global Indemnity Group’s dividend payout ratio (DPR) is presently 44.87%.

Insider Activity at Global Indemnity Group

In related news, CEO Praveen Kotha Reddy purchased 1,500 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $35.96 per share, with a total value of $53,940.00. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $53,940. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 52.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GBLI. State of Wyoming lifted its stake in shares of 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 buying an additional 685 shares during the last quarter. Huber Capital Management LLC acquired a new stake in Global Indemnity Group during the fourth quarter worth approximately $232,000. Boston Partners boosted its holdings in shares of Global Indemnity Group by 34.9% during the fourth quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock worth $3,742,000 after acquiring an additional 26,893 shares during the period. Finally, Cannell Capital LLC grew its position in shares of Global Indemnity Group by 23.1% in 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 last quarter. 37.40% of the stock is owned by institutional investors and hedge funds.

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.