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

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

Global Indemnity Group Price Performance

Shares of GBLI opened at $33.71 on Thursday. The company has a market cap of $461.35 million, a P/E ratio of 11.58 and a beta of 0.42. The stock has a fifty day moving average price of $35.47 and a 200 day moving average price of $34.31. Global Indemnity Group has a 12 month low of $28.37 and a 12 month high of $37.00.

Global Indemnity Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th were paid a $0.35 dividend. The ex-dividend date was Tuesday, December 24th. This represents a $1.40 annualized dividend and a dividend yield of 4.15%. Global Indemnity Group’s payout ratio is 48.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming grew its stake in shares of Global Indemnity Group by 56.3% in the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 685 shares in the last quarter. Huber Capital Management LLC bought a new position in shares of Global Indemnity Group in the fourth quarter worth $232,000. Boston Partners boosted its stake in Global Indemnity Group by 34.9% during 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 in the last quarter. Finally, Cannell Capital LLC boosted its stake 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 buying an additional 46,167 shares in the last quarter. 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.