Global Indemnity Group (NASDAQ:GBLI) Sees Unusually-High Trading Volume – Still a Buy?

Global Indemnity Group, LLC (NASDAQ:GBLI) shares saw unusually-high trading volume on Tuesday . Approximately 2,803 shares were traded during mid-day 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.

Analyst Ratings Changes

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

Global Indemnity Group Price Performance

The business’s 50-day moving average price is $35.28 and its two-hundred day moving average price is $34.80. The firm has a market cap of $514.98 million, a price-to-earnings ratio of 12.41 and a beta of 0.46.

Global Indemnity Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 21st will be issued a $0.35 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.88%. Global Indemnity Group’s dividend payout ratio (DPR) is presently 44.87%.

Insider Buying and Selling 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 on Friday, March 14th. The shares were purchased at an average price of $35.96 per share, with a total value of $53,940.00. Following the purchase, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $53,940. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 52.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global Indemnity Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GBLI. Boston Partners lifted its holdings in 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 acquiring an additional 26,893 shares during the last quarter. State of Wyoming lifted its stake in Global Indemnity Group by 56.3% during the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 685 shares during the last quarter. Cannell Capital LLC boosted its holdings in 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 buying an additional 46,167 shares in the last quarter. Finally, Huber Capital Management LLC acquired a new position in Global Indemnity Group in the fourth quarter worth approximately $232,000. 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.