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

StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research note issued to investors on Tuesday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

NASDAQ GBLI opened at $32.50 on Tuesday. The company has a fifty day moving average of $31.09 and a two-hundred day moving average of $30.84. The company has a market capitalization of $442.00 million, a PE ratio of 13.10 and a beta of 0.44. Global Indemnity Group has a 1 year low of $26.50 and a 1 year high of $37.00.

Global Indemnity Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were paid a dividend of $0.35 per share. The ex-dividend date was Friday, June 21st. This represents a $1.40 dividend on an annualized basis and a yield of 4.31%. Global Indemnity Group’s dividend payout ratio is presently 56.45%.

Institutional Investors Weigh In On Global Indemnity Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Global Indemnity Group during the second quarter worth approximately $55,000. Harbor Capital Advisors Inc. boosted its stake in 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 worth $892,000 after purchasing an additional 19,830 shares during the period. Boston Partners purchased a new position in Global Indemnity Group during the 1st quarter worth $2,488,000. Finally, Cannell Capital LLC acquired a new position in Global Indemnity Group in the fourth quarter valued at $3,562,000. Hedge funds and other institutional investors 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.