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 note released on Sunday morning. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

Shares of GBLI opened at $30.95 on Friday. The company has a market capitalization of $441.29 million, a P/E ratio of 10.64 and a beta of 0.39. The firm’s 50 day simple moving average is $31.27 and its 200 day simple moving average is $33.95. Global Indemnity Group has a 1-year low of $26.94 and a 1-year high of $37.00.

Global Indemnity Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 21st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Friday, March 21st. Global Indemnity Group’s payout ratio is 70.00%.

Insider Activity

In other news, Director Saul A. Fox purchased 22,400 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was acquired at an average cost of $30.31 per share, for a total transaction of $678,944.00. Following the purchase, the director now directly owns 1,818,685 shares in the company, valued at $55,124,342.35. This trade represents a 1.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Praveen Kotha Reddy acquired 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $35.96 per share, with a total value of $53,940.00. Following the completion of the purchase, the chief executive officer now owns 1,500 shares in the company, valued at $53,940. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 40,300 shares of company stock worth $1,207,900. Corporate insiders own 52.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming boosted its position 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 valued at $68,000 after acquiring an additional 685 shares during the last quarter. Huber Capital Management LLC bought a new stake in Global Indemnity Group during the fourth quarter valued at about $232,000. Boston Partners raised its stake 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. Finally, Cannell Capital LLC raised its position in Global Indemnity Group by 23.1% during the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock valued at $8,854,000 after acquiring an additional 46,167 shares in the last quarter. 37.40% of the stock is currently owned by institutional investors.

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.