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

Stock analysts at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report released on Thursday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Stock Up 1.1 %

Shares of NASDAQ GBLI opened at $28.81 on Thursday. The stock has a market capitalization of $410.72 million, a PE ratio of 9.90 and a beta of 0.29. The firm has a fifty day moving average of $33.20 and a 200-day moving average of $34.50. Global Indemnity Group has a 52-week low of $28.15 and a 52-week high of $37.00.

Insider Activity

In other Global Indemnity Group news, CEO Praveen Kotha Reddy purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $35.96 per share, with a total value of $53,940.00. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $53,940. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 52.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GBLI. Boston Partners raised its holdings 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 valued at $3,742,000 after buying an additional 26,893 shares during the period. Cannell Capital LLC grew its position in Global Indemnity Group by 23.1% in 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. Huber Capital Management LLC purchased a new stake in shares of Global Indemnity Group during the fourth quarter valued at approximately $232,000. Finally, State of Wyoming lifted its position in shares of Global Indemnity Group by 56.3% during the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 685 shares in the last quarter. Institutional investors and hedge funds 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.