Global Indemnity Group (NASDAQ:GBLI) Coverage Initiated at StockNews.com

Research analysts at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a research report issued to clients and investors on Saturday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

Shares of NASDAQ GBLI opened at $35.00 on Friday. Global Indemnity Group has a 12 month low of $26.50 and a 12 month high of $37.00. The company has a 50-day simple moving average of $33.70 and a 200-day simple moving average of $32.17. The company has a market cap of $479.15 million, a PE ratio of 12.03 and a beta of 0.43.

Institutional Investors Weigh In On Global Indemnity Group

A number of institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in Global Indemnity Group in the second quarter valued at approximately $55,000. 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 worth $892,000 after buying an additional 19,830 shares during the period. Finally, Boston Partners purchased a new stake in Global Indemnity Group during the first quarter worth approximately $2,488,000. 37.40% of the stock is currently owned by hedge funds and other 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.