Praveen Kotha Reddy Buys 1,500 Shares of Global Indemnity Group, LLC (NASDAQ:GBLI) Stock

Global Indemnity Group, LLC (NASDAQ:GBLI) CEO Praveen Kotha Reddy bought 1,500 shares of Global Indemnity Group stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $35.96 per share, for a total transaction of $53,940.00. Following the acquisition, the chief executive officer now owns 1,500 shares in the company, valued at approximately $53,940. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Global Indemnity Group Trading Up 1.4 %

GBLI opened at $36.50 on Thursday. The company has a market cap of $499.61 million, a P/E ratio of 12.54 and a beta of 0.46. The company’s 50 day moving average is $35.24 and its 200-day moving average is $34.69. Global Indemnity Group, LLC has a 1-year low of $28.37 and a 1-year high of $37.00.

Global Indemnity Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 21st will be given a $0.35 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.40 dividend on an annualized basis and a yield of 3.84%. Global Indemnity Group’s dividend payout ratio is currently 44.87%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GBLI. Boston Partners grew its position in Global Indemnity Group by 34.9% during the 4th quarter. Boston Partners now owns 103,947 shares of the insurance provider’s stock worth $3,742,000 after acquiring an additional 26,893 shares during the last quarter. Huber Capital Management LLC bought a new position in Global Indemnity Group in the fourth quarter valued at about $232,000. Cannell Capital LLC boosted its stake 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 valued at $8,854,000 after purchasing an additional 46,167 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of Global Indemnity Group by 56.3% during the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 685 shares during the last quarter. 37.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Global Indemnity Group in a research report on Saturday, March 15th. They set a “buy” rating for the company.

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.