Cove Street Capital LLC Decreases Stock Holdings in Global Indemnity Group, LLC (NASDAQ:GBLI)

Cove Street Capital LLC lowered its stake in Global Indemnity Group, LLC (NASDAQ:GBLI) by 33.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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’s holdings in Global Indemnity Group were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Boston Partners increased its position in Global Indemnity Group by 34.9% during the fourth 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. 37.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Global Indemnity Group in a report on Sunday, March 23rd. They issued a “buy” rating on the stock.

Insider Buying and Selling

In related news, CEO Praveen Kotha Reddy acquired 1,500 shares of the company’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $53,940. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 52.80% of the stock is currently owned by company insiders.

Global Indemnity Group Price Performance

GBLI opened at $34.40 on Friday. Global Indemnity Group, LLC has a 1-year low of $29.55 and a 1-year high of $37.00. The company has a 50 day simple moving average of $35.38 and a two-hundred day simple moving average of $34.87. The firm has a market cap of $490.48 million, a P/E ratio of 11.82 and a beta of 0.46.

Global Indemnity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 21st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Friday, March 21st. Global Indemnity Group’s dividend payout ratio (DPR) is 44.87%.

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.