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

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report report published on Saturday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

Shares of Global Indemnity Group stock opened at $35.14 on Friday. The stock has a market capitalization of $481.07 million, a P/E ratio of 12.08 and a beta of 0.43. Global Indemnity Group has a one year low of $26.50 and a one year high of $37.00. The business’s 50 day simple moving average is $33.77 and its two-hundred day simple moving average is $32.19.

Global Indemnity Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Monday, September 30th. Global Indemnity Group’s dividend payout ratio (DPR) is presently 48.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Global Indemnity Group during the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. increased its position in Global Indemnity Group by 223.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after purchasing an additional 19,830 shares during the period. Finally, Boston Partners bought a new position in Global Indemnity Group in the 1st quarter worth $2,488,000. Institutional investors own 37.40% of the company’s stock.

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.