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

Global Indemnity Group, LLC (NASDAQ:GBLI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.11 and traded as high as $29.30. Global Indemnity Group shares last traded at $29.27, with a volume of 2,639 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Global Indemnity Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Global Indemnity Group Price Performance

The stock has a market capitalization of $419.15 million, a price-to-earnings ratio of 15.24 and a beta of 0.42. The business has a fifty day moving average of $28.17 and a 200 day moving average of $29.11.

Global Indemnity Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 22nd were issued a dividend of $0.35 per share. The ex-dividend date was Monday, December 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.8%. Global Indemnity Group’s dividend payout ratio is currently 72.92%.

Insider Activity

In related news, CEO Joseph W. Brown acquired 5,000 shares of Global Indemnity Group stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average cost of $25.98 per share, for a total transaction of $129,900.00. Following the acquisition, the chief executive officer owned 179,904 shares in the company, valued at approximately $4,673,905.92. This represents a 2.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 52.50% of the company’s stock.

Institutional Investors Weigh In On Global Indemnity Group

Institutional investors have recently made changes to their positions in the stock. State of Wyoming raised its stake in shares of Global Indemnity Group by 70.5% in the 2nd quarter. State of Wyoming now owns 4,524 shares of the insurance provider’s stock valued at $142,000 after acquiring an additional 1,870 shares during the period. Flagship Capital Management Inc. acquired a new stake in Global Indemnity Group in the 4th quarter valued at approximately $241,000. Maryland Capital Advisors Inc. purchased a new stake in Global Indemnity Group in the fourth quarter valued at approximately $330,000. Cove Street Capital LLC raised its position in Global Indemnity Group by 5.6% in the third quarter. Cove Street Capital LLC now owns 18,746 shares of the insurance provider’s stock valued at $545,000 after purchasing an additional 1,000 shares during the period. Finally, Boston Partners lifted its stake in Global Indemnity Group by 5.0% during the third quarter. Boston Partners now owns 137,170 shares of the insurance provider’s stock worth $3,985,000 after purchasing an additional 6,552 shares in the last quarter. 37.40% of the stock is currently owned by institutional investors and hedge funds.

About Global Indemnity Group

Global Indemnity Group (NASDAQ: GBLI) is a specialty property and casualty insurance holding company headquartered in Princeton, New Jersey. Through its subsidiaries, the company focuses on underwriting commercial niche insurance products designed to meet the needs of small to mid-sized businesses and select specialty markets. Its approach centers on disciplined underwriting, customized policy structures and targeted distribution channels to address coverage gaps often underserved by standard carriers.

The company’s product portfolio encompasses surety and fidelity bonds, workers’ compensation, general liability, commercial auto, professional liability and environmental liability.