Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated at StockNews.com

Posted by ABMN Staff on Dec 2nd, 2024

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Free Report) in a research note released on Sunday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 0.1 %

Shares of GBLI stock opened at $36.39 on Friday. The firm has a market cap of $498.11 million, a P/E ratio of 12.51 and a beta of 0.43. The business has a 50-day moving average price of $34.08 and a two-hundred day moving average price of $32.30. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $37.00.

Global Indemnity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.85%. Global Indemnity Group’s dividend payout ratio is currently 48.11%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Boston Partners purchased a new position in shares of Global Indemnity Group in the first quarter worth about $2,488,000. Harbor Capital Advisors Inc. increased its holdings in shares of Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after buying an additional 19,830 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Global Indemnity Group in the second quarter worth about $55,000. Hedge funds and other institutional investors own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

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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.