StockNews.com Initiates Coverage on Global Indemnity Group (NASDAQ:GBLI)

StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report released on Friday. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

Shares of GBLI opened at $34.94 on Friday. Global Indemnity Group has a 1-year low of $26.50 and a 1-year high of $37.00. The company has a market capitalization of $475.32 million, a P/E ratio of 12.01 and a beta of 0.43. The firm’s 50 day simple moving average is $33.57 and its 200 day simple moving average is $32.11.

Global Indemnity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Monday, September 30th. Global Indemnity Group’s dividend payout ratio is currently 48.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners bought a new stake in Global Indemnity Group during the first quarter worth about $2,488,000. Harbor Capital Advisors Inc. increased its position in shares of Global Indemnity Group by 223.7% during the 2nd 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 during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Global Indemnity Group during the 2nd quarter valued at about $55,000. 37.40% of the stock is currently owned by hedge funds and other institutional investors.

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.