Global Indemnity Group (NASDAQ:GBLI) Sees Large Volume Increase – Here’s What Happened

Shares of Global Indemnity Group, LLC (NASDAQ:GBLI) saw unusually-strong trading volume on Monday . Approximately 6,026 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 4,125 shares.The stock last traded at $36.71 and had previously closed at $36.39.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Global Indemnity Group in a research report on Sunday. They issued a “buy” rating for the company.

Global Indemnity Group Price Performance

The company has a market capitalization of $503.03 million, a P/E ratio of 12.51 and a beta of 0.43. The firm has a fifty day moving average price of $34.08 and a 200-day moving average price of $32.30.

Global Indemnity Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Monday, September 30th. Global Indemnity Group’s dividend payout ratio is presently 48.11%.

Hedge Funds Weigh In On Global Indemnity Group

Several institutional investors have recently modified their holdings of the business. Boston Partners purchased a new stake in shares of Global Indemnity Group during the first quarter worth $2,488,000. Harbor Capital Advisors Inc. lifted 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 worth $892,000 after acquiring an additional 19,830 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Global Indemnity Group in the second quarter worth $55,000. 37.40% of the stock is owned by institutional investors.

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.