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

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report released on Tuesday. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

GBLI opened at $29.69 on Tuesday. The firm has a market capitalization of $423.32 million, a price-to-earnings ratio of 10.20 and a beta of 0.29. The company’s 50 day simple moving average is $34.81 and its two-hundred day simple moving average is $34.85. Global Indemnity Group has a 1-year low of $28.75 and a 1-year high of $37.00.

Global Indemnity Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 21st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Friday, March 21st. Global Indemnity Group’s dividend payout ratio (DPR) is presently 44.87%.

Insider Transactions at Global Indemnity Group

In other news, CEO Praveen Kotha Reddy purchased 1,500 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $35.96 per share, for a total transaction of $53,940.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 52.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GBLI. State of Wyoming raised 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 valued at $68,000 after purchasing an additional 685 shares during the period. Cannell Capital LLC increased its position 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 purchasing an additional 46,167 shares during the last quarter. Huber Capital Management LLC purchased a new stake in Global Indemnity Group in the 4th quarter valued at about $232,000. Finally, Boston Partners lifted 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 valued at $3,742,000 after buying an additional 26,893 shares during the last quarter. 37.40% of the stock is currently owned by institutional investors and hedge funds.

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.