StockNews.com Begins Coverage of Global Indemnity Group (NASDAQ:GBLI)

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StockNews.com assumed hedging on the shares of Global Claims Group (NASDAQ: GBLI) in a note released Tuesday to investors. The company has set a “hold” rating on the shares of the insurance provider.

Global Indemnity Group stock opened Tuesday at $26.42. Global Indemnity Group has a one-year minimum of $23.97 and a one-year maximum of $31.98. The company has a fifty-day moving average price of $25.93 and a 200-day moving average price of $26.20. The company has a debt ratio of 0.18, a current ratio of 0.25 and a quick ratio of 0.25. The company has a market capitalization of $382.59 million, a P/E ratio of 77.71 and a beta of 0.25.

In other Global Indemnity Group news, Director Bruce R. Lederman acquired 2,000 shares of the company in a transaction that took place on Thursday, December 9. The stock was purchased at an average price of $25.97 per share, with a total value of $51,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. 43.70% of the shares are currently held by insiders of the company.

A number of large investors have recently bought and sold shares of GBLI. Renaissance Technologies LLC increased its position in Global Indemnity Group by 1.2% during the second quarter. Renaissance Technologies LLC now owns 75,634 shares of the insurance provider valued at $2,038,000 after purchasing an additional 900 shares last quarter. Morgan Stanley increased its position in Global Indemnity Group by 56.8% during the second quarter. Morgan Stanley now owns 13,893 shares of the insurance provider valued at $375,000 after buying an additional 5,032 shares in the last quarter. Bank of America Corp DE increased its position in Global Indemnity Group by 29,282.9% during the second quarter. Bank of America Corp DE now owns 44,662 shares of the insurance provider valued at $1,204,000 after buying an additional 44,510 shares last quarter. Cullen Frost Bankers Inc. increased its position in Global Indemnity Group by 40.0% during the third quarter. Cullen Frost Bankers Inc. now owns 7,000 shares of the insurance provider valued at $191,000 after buying an additional 2,000 shares in the last quarter. Finally, Cannell Capital LLC acquired a new stake in Global Indemnity Group during the third quarter valued at approximately $853,000. 88.11% of the shares are held by institutional investors.

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This is a stock that has kept its expenses in line and has a positive EBITDA.

About Global Indemnity Group

Global Indemnity Group LLC is committed to providing diversified insurance and reinsurance services. It operates through the following segments: Commercial Specialty, Specialty Property, Farm, Ranch, and Stable, and Reinsurance Operations. The Commercial Specialty segment provides specialty and liability insurance products designed for product lines such as small business binding authority, real estate brokerage, vacant express and programs.

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