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

by · The Markets Daily

Investment analysts at StockNews.com began coverage on shares of Global Indemnity Group (NASDAQ:GBLI – Get Free Report) in a research note issued on Monday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

GBLI stock opened at $34.95 on Monday. The firm has a market cap of $498.30 million, a price-to-earnings ratio of 12.01 and a beta of 0.46. Global Indemnity Group has a 1-year low of $29.65 and a 1-year high of $37.00. The firm has a fifty day moving average price of $35.36 and a two-hundred day moving average price of $34.91.

Insider Buying and Selling at Global Indemnity Group

In related news, CEO Praveen Kotha Reddy purchased 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $35.96 per share, with a total value of $53,940.00. Following the acquisition, the chief executive officer now owns 1,500 shares in the company, valued at approximately $53,940. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 52.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Global Indemnity Group

Several large investors have recently added to or reduced their stakes in the stock. State of Wyoming boosted its holdings 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 valued at $68,000 after acquiring an additional 685 shares during the period. Huber Capital Management LLC bought a new stake in Global Indemnity Group in the 4th quarter valued at about $232,000. Boston Partners boosted its stake in 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 purchasing an additional 26,893 shares during the period. Finally, Cannell Capital LLC grew its position in Global Indemnity Group by 23.1% in the 4th quarter. Cannell Capital LLC now owns 245,934 shares of the insurance provider’s stock worth $8,854,000 after purchasing an additional 46,167 shares during the last quarter. 37.40% of the stock is owned by institutional investors and hedge funds.

About Global Indemnity Group

(Get Free Report)

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.

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