Cove Street Capital LLC Lowers Stake in Global Indemnity Group, LLC (NASDAQ:GBLI)

Cove Street Capital LLC decreased its position in Global Indemnity Group, LLC (NASDAQ:GBLI) by 33.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,555 shares of the insurance provider’s stock after selling 22,313 shares during the quarter. Global Indemnity Group accounts for 1.9% of Cove Street Capital LLC’s portfolio, making the stock its 25th largest position. Cove Street Capital LLC owned about 0.33% of Global Indemnity Group worth $1,604,000 at the end of the most recent quarter.

Separately, Boston Partners lifted 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. 37.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Global Indemnity Group news, CEO Praveen Kotha Reddy purchased 1,500 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $35.96 per share, with a total value of $53,940.00. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $53,940. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 52.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Global Indemnity Group in a research report on Sunday, March 23rd. They set a “buy” rating for the company.

Global Indemnity Group Stock Performance

GBLI stock opened at $34.40 on Friday. Global Indemnity Group, LLC has a fifty-two week low of $29.55 and a fifty-two week high of $37.00. The company has a market capitalization of $490.48 million, a price-to-earnings ratio of 11.82 and a beta of 0.46. The business’s 50 day moving average price is $35.38 and its two-hundred day moving average price is $34.87.

Global Indemnity Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 21st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.07%. The ex-dividend date was Friday, March 21st. Global Indemnity Group’s dividend payout ratio is currently 44.87%.

Global Indemnity Group 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.