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

StockNews.com assumed coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report released on Sunday morning. The firm issued a buy rating on the insurance provider’s stock.

Global Indemnity Group Trading Down 1.6 %

NASDAQ:GBLI opened at $30.50 on Friday. The firm’s fifty day simple moving average is $30.99 and its 200 day simple moving average is $30.67. Global Indemnity Group has a twelve month low of $26.50 and a twelve month high of $37.00. The firm has a market capitalization of $414.80 million, a price-to-earnings ratio of 12.30 and a beta of 0.44.

Global Indemnity Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $1.40 annualized dividend and a yield of 4.59%. Global Indemnity Group’s dividend payout ratio is presently 56.45%.

Institutional Investors Weigh In On Global Indemnity Group

A number of institutional investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in shares of Global Indemnity Group in the 2nd quarter worth about $55,000. Harbor Capital Advisors Inc. raised its stake in Global Indemnity Group by 223.7% during the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock worth $892,000 after acquiring an additional 19,830 shares during the period. Boston Partners bought a new position in Global Indemnity Group in the first quarter worth about $2,488,000. Finally, Cannell Capital LLC bought a new position in Global Indemnity Group during the 4th quarter worth $3,562,000. 37.40% of the stock is currently owned by institutional investors.

Global Indemnity Group Company Profile

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.