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

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

Global Indemnity Group Stock Performance

NASDAQ GBLI opened at $35.00 on Friday. Global Indemnity Group has a fifty-two week low of $26.50 and a fifty-two week high of $37.00. The stock has a market cap of $476 million, a P/E ratio of 9.41 and a beta of 0.43. The stock has a 50 day simple moving average of $33.51 and a two-hundred day simple moving average of $32.09.

Hedge Funds Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently modified their holdings of GBLI. Harbor Capital Advisors Inc. boosted 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 acquiring an additional 19,830 shares in the last quarter. Boston Partners bought a new position in Global Indemnity Group in the first quarter worth $2,488,000. Finally, Innealta Capital LLC purchased a new stake in shares of Global Indemnity Group in the 2nd quarter worth about $55,000. Hedge funds and other 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.