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

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

Global Indemnity Group Trading Down 2.4 %

Shares of GBLI opened at $35.68 on Friday. Global Indemnity Group has a twelve month low of $28.37 and a twelve month high of $37.00. The firm’s fifty day simple moving average is $35.27 and its 200-day simple moving average is $34.63. The firm has a market capitalization of $488.32 million, a price-to-earnings ratio of 12.26 and a beta of 0.46.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GBLI. Cannell Capital LLC grew its position in shares of Global Indemnity Group by 23.1% in the 4th quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock valued at $8,854,000 after buying an additional 46,167 shares during the last quarter. Boston Partners grew its position in shares of Global Indemnity Group by 34.9% in the 4th quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock valued at $3,742,000 after buying an additional 26,893 shares during the last quarter. Huber Capital Management LLC purchased a new position in shares of Global Indemnity Group in the 4th quarter valued at $232,000. Finally, State of Wyoming grew its position in shares of Global Indemnity Group by 56.3% in the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after buying an additional 685 shares during the last quarter. 37.40% of the stock is owned by hedge funds and other institutional investors.

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.