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

Equities research analysts at StockNews.com initiated coverage on shares of Global Indemnity Group (NASDAQ:GBLI) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the insurance provider’s stock.

Global Indemnity Group Trading Up 4.1 %

GBLI stock opened at $36.04 on Wednesday. The stock’s 50 day simple moving average is $35.61 and its 200 day simple moving average is $34.22. Global Indemnity Group has a 12-month low of $28.25 and a 12-month high of $37.00. The firm has a market cap of $493.32 million, a P/E ratio of 12.38 and a beta of 0.42.

Hedge Funds Weigh In On Global Indemnity Group

Large investors have recently made changes to their positions in the business. Cannell Capital LLC raised its position in shares of Global Indemnity Group by 23.1% during the fourth 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 during the period. Boston Partners boosted its position in shares of Global Indemnity Group by 34.9% in the 4th 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 period. Huber Capital Management LLC purchased a new position in Global Indemnity Group in the 4th quarter worth about $232,000. Finally, State of Wyoming raised its holdings in Global Indemnity Group by 56.3% during 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 period. Institutional investors own 37.40% of the company’s stock.

Global Indemnity Group Company 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.