Global Indemnity Group (NASDAQ:GBLI) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Global Indemnity Group, LLC (NASDAQ:GBLI)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.68 and traded as high as $28.98. Global Indemnity Group shares last traded at $28.9250, with a volume of 2,657 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Global Indemnity Group in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Global Indemnity Group has an average rating of “Hold”.

Global Indemnity Group Stock Performance

The stock has a fifty day moving average price of $28.62 and a 200-day moving average price of $28.68. The firm has a market capitalization of $408.69 million, a PE ratio of 16.69 and a beta of 0.41.

Global Indemnity Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, March 20th. Global Indemnity Group’s dividend payout ratio is presently 81.87%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC raised its stake in shares of Global Indemnity Group by 190.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 954 shares in the last quarter. State of Wyoming boosted its stake in Global Indemnity Group by 23.8% in the fourth quarter. State of Wyoming now owns 4,898 shares of the insurance provider’s stock valued at $139,000 after acquiring an additional 942 shares in the last quarter. Flagship Capital Management Inc. purchased a new position in Global Indemnity Group in the fourth quarter worth $241,000. Maryland Capital Advisors Inc. acquired a new position in shares of Global Indemnity Group during the fourth quarter worth $330,000. Finally, Cove Street Capital LLC lifted its holdings in shares of Global Indemnity Group by 5.6% during the 3rd quarter. Cove Street Capital LLC now owns 18,746 shares of the insurance provider’s stock valued at $545,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 37.40% of the company’s stock.

About Global Indemnity Group

Global Indemnity Group (NASDAQ: GBLI) is a specialty property and casualty insurance holding company headquartered in Princeton, New Jersey. Through its subsidiaries, the company focuses on underwriting commercial niche insurance products designed to meet the needs of small to mid-sized businesses and select specialty markets. Its approach centers on disciplined underwriting, customized policy structures and targeted distribution channels to address coverage gaps often underserved by standard carriers.

The company’s product portfolio encompasses surety and fidelity bonds, workers’ compensation, general liability, commercial auto, professional liability and environmental liability.