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

Stock analysts at StockNews.com started coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a report issued on Sunday. The firm set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Price Performance

Shares of GBLI stock opened at $35.94 on Friday. The company has a fifty day moving average price of $35.28 and a two-hundred day moving average price of $34.80. Global Indemnity Group has a one year low of $28.62 and a one year high of $37.00. The stock has a market cap of $512.43 million, a P/E ratio of 12.35 and a beta of 0.46.

Insider Buying and Selling

In other news, CEO Praveen Kotha Reddy bought 1,500 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $35.96 per share, with a total value of $53,940.00. Following the acquisition, the chief executive officer now directly owns 1,500 shares in the company, valued at $53,940. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 52.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cannell Capital LLC increased its position in Global Indemnity Group by 23.1% during 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 in the last quarter. Boston Partners raised its position in Global Indemnity Group by 34.9% in the fourth 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 last quarter. Huber Capital Management LLC acquired a new stake in shares of Global Indemnity Group during the fourth quarter valued at about $232,000. Finally, State of Wyoming grew 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 worth $68,000 after purchasing an additional 685 shares during the last quarter. Institutional investors and hedge funds 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.