Global Indemnity Group (NASDAQ:GBLI) Sees Strong Trading Volume – What’s Next?

Global Indemnity Group, LLC (NASDAQ:GBLI) shares saw unusually-high trading volume on Tuesday . Approximately 2,803 shares traded hands during trading, a decline of 24% from the previous session’s volume of 3,676 shares.The stock last traded at $36.11 and had previously closed at $36.00.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Global Indemnity Group in a research note on Sunday. They set a “buy” rating on the stock.

Global Indemnity Group Price Performance

The business’s 50-day moving average price is $35.28 and its 200-day moving average price is $34.80. The firm has a market capitalization of $514.98 million, a PE ratio of 12.41 and a beta of 0.46.

Global Indemnity Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 21st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, March 21st. Global Indemnity Group’s dividend payout ratio is presently 44.87%.

Insider Transactions at Global Indemnity Group

In other Global Indemnity Group news, CEO Praveen Kotha Reddy bought 1,500 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $35.96 per share, with a total value of $53,940.00. Following the purchase, the chief executive officer now owns 1,500 shares in the company, valued at approximately $53,940. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 52.80% of the company’s stock.

Institutional Trading of Global Indemnity Group

A number of institutional investors have recently added to or reduced their stakes in GBLI. Cannell Capital LLC boosted its position in shares of 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 buying an additional 46,167 shares in the last quarter. Boston Partners grew its stake in Global Indemnity Group by 34.9% in the 4th quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock worth $3,742,000 after acquiring an additional 26,893 shares during the period. Huber Capital Management LLC acquired a new stake in shares of Global Indemnity Group during the fourth quarter worth $232,000. Finally, State of Wyoming boosted its stake in Global Indemnity Group by 56.3% in the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock worth $68,000 after buying an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 37.40% of the company’s stock.

About Global Indemnity Group

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.