Global Indemnity Group (NASDAQ:GBLI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Global Indemnity Group, LLC (NASDAQ:GBLI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $34.59 and traded as high as $36.04. Global Indemnity Group shares last traded at $35.68, with a volume of 20,351 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Global Indemnity Group in a research note on Saturday. They issued a “buy” rating for the company.

Global Indemnity Group Stock Performance

The company has a 50 day moving average of $35.27 and a 200 day moving average of $34.59. The stock has a market capitalization of $488.32 million, a price-to-earnings ratio of 12.26 and a beta of 0.46.

Global Indemnity Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 21st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, March 21st. Global Indemnity Group’s dividend payout ratio (DPR) is 44.87%.

Hedge Funds Weigh In On Global Indemnity Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners increased its stake in shares of Global Indemnity Group by 34.9% during the 4th quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock worth $3,742,000 after purchasing an additional 26,893 shares in the last quarter. Huber Capital Management LLC acquired a new position in shares of Global Indemnity Group during the fourth quarter worth about $232,000. Cannell Capital LLC grew its stake in shares of Global Indemnity Group by 23.1% during the fourth 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. Finally, State of Wyoming raised its holdings in Global Indemnity Group by 56.3% in the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 685 shares in the last quarter. 37.40% of the stock is currently 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.