Praveen Kotha Reddy Purchases 1,500 Shares of Global Indemnity Group, LLC (NASDAQ:GBLI) Stock

Global Indemnity Group, LLC (NASDAQ:GBLI) CEO Praveen Kotha Reddy acquired 1,500 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $35.96 per share, for a total transaction of $53,940.00. Following the acquisition, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $53,940. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Global Indemnity Group Stock Up 1.1 %

GBLI traded up $0.38 during trading on Tuesday, hitting $35.94. 1,727 shares of the company’s stock were exchanged, compared to its average volume of 3,943. The business’s 50 day moving average is $35.24 and its two-hundred day moving average is $34.65. Global Indemnity Group, LLC has a fifty-two week low of $28.37 and a fifty-two week high of $37.00. The stock has a market cap of $491.93 million, a P/E ratio of 12.35 and a beta of 0.46.

Global Indemnity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, March 21st. This represents a $1.40 annualized dividend and a yield of 3.90%. Global Indemnity Group’s payout ratio is 44.87%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Global Indemnity Group in a report on Saturday. They set a “buy” rating on the stock.

Institutional Trading of Global Indemnity Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming raised its holdings in shares of Global Indemnity Group by 56.3% in the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 685 shares during the last quarter. Huber Capital Management LLC purchased a new stake in shares of Global Indemnity Group in the fourth quarter valued at about $232,000. Boston Partners raised 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 during the last quarter. Finally, Cannell Capital LLC raised its holdings in shares of Global Indemnity Group by 23.1% in the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock valued at $8,854,000 after purchasing an additional 46,167 shares during 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.