StockNews.com Begins Coverage on Global Indemnity Group (NASDAQ:GBLI)

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

Global Indemnity Group Trading Up 1.3 %

NASDAQ:GBLI opened at $34.71 on Thursday. The company has a 50 day simple moving average of $35.52 and a two-hundred day simple moving average of $34.32. The company has a market cap of $475.04 million, a PE ratio of 11.93 and a beta of 0.42. Global Indemnity Group has a 12 month low of $28.37 and a 12 month high of $37.00.

Institutional Trading of Global Indemnity Group

Several hedge funds have recently modified their holdings of the company. State of Wyoming lifted its stake in shares of Global Indemnity Group by 56.3% in the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 685 shares during the last quarter. Huber Capital Management LLC bought a new position in shares of Global Indemnity Group during the 4th quarter worth $232,000. Boston Partners increased its position in Global Indemnity Group by 34.9% during the 4th 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. Finally, Cannell Capital LLC lifted its holdings in Global Indemnity Group by 23.1% during the fourth quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after buying an additional 46,167 shares during the period. 37.40% of the stock is 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.