Global Indemnity Group (NASDAQ:GBLI) Now Covered by Analysts at StockNews.com

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

Global Indemnity Group Trading Up 2.9 %

Shares of Global Indemnity Group stock opened at $34.38 on Thursday. Global Indemnity Group has a 12-month low of $28.37 and a 12-month high of $37.00. The stock has a market cap of $470.53 million, a PE ratio of 11.81 and a beta of 0.42. The company has a 50-day moving average of $35.44 and a two-hundred day moving average of $34.36.

Global Indemnity Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 24th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, December 24th. This represents a $1.40 dividend on an annualized basis and a yield of 4.07%. Global Indemnity Group’s payout ratio is 48.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GBLI. State of Wyoming boosted its position in shares of Global Indemnity Group by 56.3% in the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock worth $68,000 after buying an additional 685 shares in the last quarter. Cannell Capital LLC increased its holdings in Global Indemnity Group by 23.1% during the 4th 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. Huber Capital Management LLC acquired a new position in Global Indemnity Group during the fourth quarter worth about $232,000. Finally, Boston Partners lifted its holdings in shares of 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 purchasing an additional 26,893 shares in the last quarter. 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.