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

Equities research analysts at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued to investors on Saturday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Trading Up 2.9 %

Shares of GBLI stock opened at $35.00 on Friday. The firm has a 50-day moving average price of $33.70 and a 200 day moving average price of $32.17. Global Indemnity Group has a twelve month low of $26.50 and a twelve month high of $37.00. The company has a market capitalization of $479.08 million, a price-to-earnings ratio of 12.03 and a beta of 0.43.

Institutional Inflows and Outflows

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

Global Indemnity Group Company Profile

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.