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

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

Global Indemnity Group Trading Down 2.4 %

NASDAQ:GBLI opened at $35.68 on Friday. The stock has a market capitalization of $488.32 million, a PE ratio of 12.26 and a beta of 0.46. The firm’s 50 day moving average is $35.27 and its 200 day moving average is $34.59. Global Indemnity Group has a 12 month low of $28.37 and a 12 month high of $37.00.

Institutional Investors Weigh In On Global Indemnity Group

A number of hedge funds have recently modified their holdings of GBLI. Boston Partners raised its holdings in shares of Global Indemnity Group by 34.9% in 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 during the period. Huber Capital Management LLC bought a new stake in Global Indemnity Group during the 4th quarter valued at $232,000. Cannell Capital LLC raised its holdings in Global Indemnity Group by 23.1% during the 4th 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 during the period. Finally, State of Wyoming raised its holdings in Global Indemnity Group by 56.3% during the 4th 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 during the period. Institutional investors own 37.40% of the company’s stock.

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.