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

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

Global Indemnity Group Stock Performance

GBLI opened at $35.00 on Friday. The firm has a market cap of $479.15 million, a P/E ratio of 12.03 and a beta of 0.43. The firm has a 50-day moving average of $33.70 and a 200 day moving average of $32.17. Global Indemnity Group has a fifty-two week low of $26.50 and a fifty-two week high of $37.00.

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 paid a $0.35 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 4.00%. Global Indemnity Group’s payout ratio is 48.11%.

Hedge Funds Weigh In On Global Indemnity Group

Several large investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new position in shares of Global Indemnity Group in the second quarter worth about $55,000. Harbor Capital Advisors Inc. increased its stake in shares of Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after purchasing an additional 19,830 shares in the last quarter. Finally, Boston Partners purchased a new position in shares of Global Indemnity Group in the first quarter worth about $2,488,000. 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.