Global Indemnity Group (NASDAQ:GBLI) Earns Buy Rating from Analysts at StockNews.com

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

Global Indemnity Group Trading Up 2.9 %

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

Global Indemnity Group Dividend Announcement

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

Institutional Investors Weigh In On Global Indemnity Group

Hedge funds have recently made changes to their positions in the business. State of Wyoming raised its stake in Global Indemnity Group by 56.3% during the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 685 shares during the last quarter. Huber Capital Management LLC acquired a new position in shares of Global Indemnity Group in the fourth quarter valued at approximately $232,000. Boston Partners raised its stake in shares of Global Indemnity Group by 34.9% during the fourth quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock worth $3,742,000 after purchasing an additional 26,893 shares during the last quarter. Finally, Cannell Capital LLC raised its stake in shares of Global Indemnity Group by 23.1% during the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after purchasing an additional 46,167 shares during the last quarter. Institutional investors and hedge funds 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.