Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

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

Global Indemnity Group Stock Up 0.2 %

Shares of Global Indemnity Group stock opened at $36.50 on Friday. Global Indemnity Group has a 52-week low of $26.50 and a 52-week high of $37.00. The firm’s 50 day moving average price is $34.15 and its 200-day moving average price is $32.34. The company has a market cap of $499.69 million, a P/E ratio of 9.79 and a beta of 0.42.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a $0.35 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 3.84%. Global Indemnity Group’s payout ratio is 48.11%.

Hedge Funds Weigh In On Global Indemnity Group

Large investors have recently modified their holdings of the business. Boston Partners acquired a new stake in shares of Global Indemnity Group in the first quarter valued at $2,488,000. Harbor Capital Advisors Inc. boosted its stake in shares of Global Indemnity Group by 223.7% in the 2nd 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 period. Finally, Innealta Capital LLC acquired a new position in shares of Global Indemnity Group during the second quarter worth about $55,000. Institutional investors and hedge funds 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.