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

Posted by Grant Hamersma on Dec 4th, 2024

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Free Report) in a report issued on Sunday. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Stock Performance

NASDAQ GBLI opened at $36.50 on Friday. Global Indemnity Group has a one year low of $26.50 and a one year high of $37.00. The company’s 50 day moving average price is $34.15 and its 200 day moving average price is $32.34. The firm has a market capitalization of $499.69 million, a price-to-earnings ratio of 9.79 and a beta of 0.42.

Global Indemnity Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a $0.35 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.84%. Global Indemnity Group’s payout ratio is 48.11%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in shares of Global Indemnity Group during the second quarter valued at approximately $55,000. Harbor Capital Advisors Inc. lifted its holdings 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 valued at $892,000 after purchasing an additional 19,830 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Global Indemnity Group in the 1st quarter valued at about $2,488,000. Institutional investors and hedge funds own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

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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.