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

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report published on Friday morning. The brokerage issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Trading Down 0.2 %

GBLI opened at $34.94 on Friday. The company has a 50 day moving average of $33.57 and a 200 day moving average of $32.11. Global Indemnity Group has a 12 month low of $26.50 and a 12 month high of $37.00. The company has a market cap of $475.32 million, a PE ratio of 12.01 and a beta of 0.43.

Global Indemnity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.01%. Global Indemnity Group’s payout ratio is 48.11%.

Institutional Investors Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its stake in Global Indemnity Group by 223.7% during the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after acquiring an additional 19,830 shares in the last quarter. Boston Partners bought a new position in Global Indemnity Group in the 1st quarter valued at $2,488,000. Finally, Innealta Capital LLC purchased a new position in shares of Global Indemnity Group during the 2nd quarter valued at $55,000. 37.40% of the stock is currently owned by institutional investors.

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.