Global Indemnity Group (NASDAQ:GBLI) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Global Indemnity Group, LLC (NASDAQ:GBLI)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.00 and traded as high as $29.24. Global Indemnity Group shares last traded at $29.20, with a volume of 8,155 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Global Indemnity Group in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Global Indemnity Group Stock Up 2.0%

The stock has a 50 day moving average of $28.40 and a 200 day moving average of $29.00. The company has a market capitalization of $418.14 million, a price-to-earnings ratio of 15.21 and a beta of 0.41.

Global Indemnity Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 22nd were issued a $0.35 dividend. The ex-dividend date was Monday, December 22nd. This represents a $1.40 annualized dividend and a yield of 4.8%. Global Indemnity Group’s payout ratio is presently 72.92%.

Insiders Place Their Bets

In other Global Indemnity Group news, CEO Joseph W. Brown purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was purchased at an average cost of $25.98 per share, for a total transaction of $129,900.00. Following the acquisition, the chief executive officer owned 179,904 shares in the company, valued at approximately $4,673,905.92. The trade was a 2.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 52.50% of the company’s stock.

Institutional Investors Weigh In On Global Indemnity Group

Several large investors have recently added to or reduced their stakes in GBLI. Ameriprise Financial Inc. lifted its stake in Global Indemnity Group by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 298,435 shares of the insurance provider’s stock valued at $9,359,000 after buying an additional 2,565 shares during the period. Cannell Capital LLC increased its stake in shares of Global Indemnity Group by 1.4% in the 2nd quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider’s stock valued at $8,853,000 after acquiring an additional 3,841 shares in the last quarter. State of Wyoming lifted its position in shares of Global Indemnity Group by 70.5% during the 2nd quarter. State of Wyoming now owns 4,524 shares of the insurance provider’s stock valued at $142,000 after acquiring an additional 1,870 shares during the period. Boston Partners boosted its stake in Global Indemnity Group by 5.0% during the third quarter. Boston Partners now owns 137,170 shares of the insurance provider’s stock worth $3,985,000 after acquiring an additional 6,552 shares in the last quarter. Finally, Cove Street Capital LLC increased its stake in Global Indemnity Group by 5.6% in the third quarter. Cove Street Capital LLC now owns 18,746 shares of the insurance provider’s stock valued at $545,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 37.40% of the company’s stock.

Global Indemnity Group Company Profile

Global Indemnity Group (NASDAQ: GBLI) is a specialty property and casualty insurance holding company headquartered in Princeton, New Jersey. Through its subsidiaries, the company focuses on underwriting commercial niche insurance products designed to meet the needs of small to mid-sized businesses and select specialty markets. Its approach centers on disciplined underwriting, customized policy structures and targeted distribution channels to address coverage gaps often underserved by standard carriers.

The company’s product portfolio encompasses surety and fidelity bonds, workers’ compensation, general liability, commercial auto, professional liability and environmental liability.