Global Indemnity Group (NASDAQ:GBLI) Now Covered by StockNews.com

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

Global Indemnity Group Stock Performance

Shares of Global Indemnity Group stock opened at $29.85 on Wednesday. The stock has a 50 day moving average of $34.20 and a 200 day moving average of $34.73. The firm has a market capitalization of $425.60 million, a price-to-earnings ratio of 10.26 and a beta of 0.29. Global Indemnity Group has a fifty-two week low of $28.75 and a fifty-two week high of $37.00.

Insider Buying and Selling at Global Indemnity Group

In other news, CEO Praveen Kotha Reddy bought 1,500 shares of the business’s stock in a transaction on Friday, March 14th. The shares were bought at an average price of $35.96 per share, with a total value of $53,940.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at $53,940. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 52.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Indemnity Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Cannell Capital LLC grew its position in 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 acquiring an additional 46,167 shares in the last quarter. Boston Partners boosted its stake in shares of Global Indemnity Group by 34.9% in the fourth quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock valued at $3,742,000 after purchasing an additional 26,893 shares during the period. Huber Capital Management LLC acquired a new position in shares of Global Indemnity Group in the fourth quarter valued at approximately $232,000. Finally, State of Wyoming increased its stake in Global Indemnity Group by 56.3% during the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock worth $68,000 after buying an additional 685 shares during the period. Hedge funds and other institutional investors own 37.40% of the company’s stock.

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.