Global Indemnity Group (NASDAQ:GBLI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Global Indemnity Group (NASDAQ:GBLI – Get Rating) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Separately, TheStreet lowered shares of Global Indemnity Group from a b+ rating to a c+ rating in a research note on Friday, March 10th.

Global Indemnity Group Price Performance

Shares of GBLI stock traded down $0.56 on Friday, hitting $27.39. The company’s stock had a trading volume of 1,554 shares, compared to its average volume of 4,165. Global Indemnity Group has a fifty-two week low of $20.52 and a fifty-two week high of $30.72. The firm’s fifty day moving average price is $28.59 and its 200-day moving average price is $25.25. The stock has a market capitalization of $400.44 million, a price-to-earnings ratio of 21.50 and a beta of 0.36.

Global Indemnity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Thursday, March 23rd. Global Indemnity Group’s payout ratio is presently -833.33%.

Institutional Investors Weigh In On Global Indemnity Group

Institutional investors and hedge funds have recently modified their holdings of the business. First Republic Investment Management Inc. acquired a new position in Global Indemnity Group during the 2nd quarter worth $259,000. Cullen Frost Bankers Inc. lifted its position in Global Indemnity Group by 18.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 13,000 shares of the insurance provider’s stock worth $287,000 after acquiring an additional 2,000 shares during the last quarter. Mutual Advisors LLC bought a new position in shares of Global Indemnity Group during the 4th quarter worth about $317,000. Renaissance Technologies LLC increased its holdings in shares of Global Indemnity Group by 7.1% during the 1st quarter. Renaissance Technologies LLC now owns 84,134 shares of the insurance provider’s stock worth $2,195,000 after purchasing an additional 5,600 shares during the period. Finally, Berkley W R Corp increased its holdings in shares of Global Indemnity Group by 53.2% during the 2nd quarter. Berkley W R Corp now owns 906,134 shares of the insurance provider’s stock worth $23,442,000 after purchasing an additional 314,848 shares during the period. Institutional investors and hedge funds own 45.83% of the company’s stock.

Global Indemnity Group Company Profile

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Global Indemnity Group LLC engages in providing diversified insurance and reinsurance services. It operates through the following segments: Commercial Specialty, Farm, Ranch, and Stable, Reinsurance Operations, and Exited Lines. The Commercial Specialty segment provides specialty and casualty products designed for product lines such as small business binding authority, property brokerage, vacant express and programs.