Global Indemnity (GBLI) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Global Indemnity (NASDAQ:GBLI) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Global Indemnity (NASDAQ GBLI) traded down $0.69 during trading on Thursday, hitting $42.74. 4,900 shares of the stock traded hands, compared to its average volume of 12,738. Global Indemnity has a fifty-two week low of $34.00 and a fifty-two week high of $49.91. The stock has a market cap of $752.01, a PE ratio of 23.35 and a beta of 0.87.

In other Global Indemnity news, CEO Cynthia Y. Valko sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $41.10, for a total transaction of $616,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 53.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Global Indemnity by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 948,823 shares of the insurance provider’s stock valued at $40,230,000 after purchasing an additional 6,005 shares during the last quarter. Capital Returns Management LLC increased its stake in Global Indemnity by 6.2% in the 3rd quarter. Capital Returns Management LLC now owns 486,048 shares of the insurance provider’s stock valued at $20,608,000 after buying an additional 28,440 shares during the last quarter. Vanguard Group Inc. increased its stake in Global Indemnity by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 413,211 shares of the insurance provider’s stock valued at $16,021,000 after buying an additional 1,206 shares during the last quarter. Boston Partners grew its position in shares of Global Indemnity by 3.1% in the 3rd quarter. Boston Partners now owns 321,168 shares of the insurance provider’s stock valued at $13,618,000 after acquiring an additional 9,599 shares during the period. Finally, State Street Corp grew its position in shares of Global Indemnity by 1.2% in the 2nd quarter. State Street Corp now owns 178,532 shares of the insurance provider’s stock valued at $6,921,000 after acquiring an additional 2,189 shares during the period. 45.33% of the stock is currently owned by institutional investors and hedge funds.

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About Global Indemnity

Global Indemnity Limited is a holding company. The Company, through its subsidiary insurance and reinsurance companies, provides both admitted and non-admitted specialty property and casualty insurance coverages and individual policyholder coverages in the United States, as well as reinsurance across the world.

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