StockNews.com launches coverage on Global Indemnity Group (NASDAQ:GBLI)

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StockNews.com assumed hedging on the shares of Global Indemnity Group (NASDAQ: GBLI – Get a rating) in a note released Sunday to investors. The brokerage has set a “hold” rating on the shares of the insurance provider.

Separately, TheStreet upgraded Global Indemnity Group from a “c” rating to a “b-” rating in a Friday, March 11 report.

The NASDAQ GBLI opened at $26.78 on Friday. The stock’s 50-day moving average is $26.20 and its 200-day moving average is $26.08. Global Indemnity Group has a one-year minimum of $23.97 and a one-year maximum of $31.98. The company has a debt ratio of 0.19, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $389.01 million, a P/E ratio of 46.98 and a beta of 0.22.

Global Indemnity Group (NASDAQ: GBLI – Get a rating) last released its quarterly earnings data on Monday, May 9. The insurance provider reported EPS of $0.36 for the quarter. The company had revenue of $130.46 million in the quarter. Global Indemnity Group achieved a return on equity of 1.80% and a net margin of 1.39%.

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In other Global Indemnity Group news, Director Seth Gersch purchased 1,000 shares of Global Indemnity Group in a trade dated Tuesday, May 17. The stock was purchased at an average cost of $26.96 per share, with a total value of $26,960.00. Following the completion of the acquisition, the administrator now directly owns 166,471 shares of the company, valued at approximately $4,488,058.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. Insiders hold 43.70% of the shares of the company.

Several hedge funds have recently increased or reduced their stake in GBLI. Morgan Stanley increased its holdings of Global Indemnity Group shares by 56.8% in the second quarter. Morgan Stanley now owns 13,893 shares of the insurance provider valued at $375,000 after acquiring 5,032 additional shares in the last quarter. Cannell Capital LLC bought a new position in shares of Global Indemnity Group in the third quarter worth approximately $853,000. Cullen Frost Bankers Inc. increased its holdings of Global Indemnity Group shares by 28.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 9,000 shares of the insurance provider valued at $226,000 after acquiring an additional 2,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings of Global Indemnity Group shares by 6.4% in the fourth quarter. Renaissance Technologies LLC now owns 78,534 shares of the insurance provider valued at $1,974,000 after acquiring an additional 4,700 shares last quarter. Finally, RBF Capital LLC bought a new position in Global Indemnity Group during the first quarter at a value of $533,000. 88.18% of the shares are held by institutional investors.

Global Indemnity Group Company Profile (Get a rating)

Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance and reinsurance products worldwide. It operates through Commercial Specialty; Farm, ranch and stable; and the reinsurance operations segments. The Commercial Specialty segment distributes property and casualty, general liability, accident and professional insurance products.

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