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

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

Global Indemnity Group Trading Down 1.0 %

Shares of NASDAQ:GBLI opened at $34.17 on Monday. Global Indemnity Group has a 12-month low of $22.93 and a 12-month high of $37.00. The business has a 50 day moving average of $34.79 and a two-hundred day moving average of $33.18. The company has a market capitalization of $462.76 million, a PE ratio of 22.19 and a beta of 0.41.

Hedge Funds Weigh In On Global Indemnity Group

Several institutional investors and hedge funds have recently modified their holdings of GBLI. RBF Capital LLC lifted its holdings in Global Indemnity Group by 288.1% during the first quarter. RBF Capital LLC now owns 176,387 shares of the insurance provider’s stock valued at $4,963,000 after purchasing an additional 130,941 shares in the last quarter. Springhouse Capital Management LP grew its holdings in Global Indemnity Group by 48.6% in the 1st quarter. Springhouse Capital Management LP now owns 359,481 shares of the insurance provider’s stock valued at $10,119,000 after buying an additional 117,610 shares in the last quarter. Cove Street Capital LLC grew its holdings in Global Indemnity Group by 25.3% in the 2nd quarter. Cove Street Capital LLC now owns 102,565 shares of the insurance provider’s stock valued at $3,445,000 after buying an additional 20,683 shares in the last quarter. Ellsworth Advisors LLC acquired a new stake in shares of Global Indemnity Group in the 3rd quarter worth $393,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Global Indemnity Group by 4.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 288,239 shares of the insurance provider’s stock worth $9,901,000 after acquiring an additional 11,055 shares during the period. Hedge funds and other institutional investors own 37.69% 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, Commercial Specialty and Reinsurance Operations. The Commercial Specialty segment distributes property and casualty insurance products; and general liability products for small commercial businesses through a network of wholesale general agents.