StockNews.com Initiates Coverage on Global Indemnity Group (NASDAQ:GBLI)

Equities research analysts at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report issued to clients and investors on Friday. The firm set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Trading Up 2.0 %

NASDAQ GBLI opened at $34.75 on Friday. The company has a market cap of $472.74 million, a P/E ratio of 11.94 and a beta of 0.43. The company has a fifty day simple moving average of $33.45 and a 200 day simple moving average of $32.06. Global Indemnity Group has a 12-month low of $26.50 and a 12-month high of $37.00.

Hedge Funds Weigh In On Global Indemnity Group

Large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its position in shares of Global Indemnity Group by 223.7% during the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after buying an additional 19,830 shares during the last quarter. Boston Partners purchased a new stake in shares of Global Indemnity Group in the first quarter valued at about $2,488,000. Finally, Innealta Capital LLC bought a new position in shares of Global Indemnity Group during the second quarter valued at about $55,000. Institutional investors own 37.40% of the company’s stock.

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.