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

StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLIGet Rating) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the insurance provider’s stock.

Global Indemnity Group Trading Down 3.0 %

NASDAQ:GBLI opened at $23.70 on Monday. The company has a 50-day moving average price of $22.79 and a 200-day moving average price of $24.83. Global Indemnity Group has a 12 month low of $20.52 and a 12 month high of $27.66. The stock has a market cap of $346.49 million, a price-to-earnings ratio of 16.46 and a beta of 0.35.

Global Indemnity Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Tuesday, October 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, October 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.22%. Global Indemnity Group’s dividend payout ratio (DPR) is currently 69.44%.

Insider Activity at Global Indemnity Group

In other Global Indemnity Group news, Director Gary Charles Tolman purchased 1,500 shares of the stock in a transaction that occurred on Thursday, November 17th. The stock was bought at an average cost of $23.60 per share, with a total value of $35,400.00. Following the transaction, the director now directly owns 5,599 shares in the company, valued at approximately $132,136.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 2,499 shares of company stock valued at $59,929 in the last three months. Company insiders own 44.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. First Republic Investment Management Inc. purchased a new position in Global Indemnity Group during the 2nd quarter valued at about $259,000. Cullen Frost Bankers Inc. increased its stake in Global Indemnity Group by 22.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 11,000 shares of the insurance provider’s stock valued at $287,000 after purchasing an additional 2,000 shares in the last quarter. RBF Capital LLC bought a new stake in Global Indemnity Group during the 1st quarter valued at about $533,000. Renaissance Technologies LLC increased its stake in Global Indemnity Group by 7.1% during the 1st quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider’s stock valued at $2,195,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Berkley W R Corp bought a new stake in Global Indemnity Group during the 1st quarter valued at about $15,427,000. 49.28% of the stock is owned by hedge funds and other institutional investors.

Global Indemnity Group Company Profile

(Get Rating)

Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance and reinsurance products worldwide. It operates through Commercial Specialty; Farm, Ranch, & Stable; and Reinsurance Operations segments. The Commercial Specialty segment distributes property, general liability, casualty, and professional lines products.

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