IFM Investors Pty Ltd purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,218 shares of the company’s stock, valued at approximately $1,170,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in shares of Globe Life in the third quarter valued at approximately $4,280,000. Quadrant Capital Group LLC purchased a new stake in shares of Globe Life in the third quarter valued at approximately $66,000. Hartford Investment Management Co. purchased a new stake in shares of Globe Life in the third quarter valued at approximately $1,282,000. Great West Life Assurance Co. Can purchased a new stake in shares of Globe Life in the third quarter valued at approximately $8,833,000. Finally, LS Investment Advisors LLC purchased a new stake in shares of Globe Life in the third quarter valued at approximately $1,581,000. 74.05% of the stock is currently owned by institutional investors.
Shares of Globe Life stock traded down $0.01 during trading on Friday, reaching $98.93. The company’s stock had a trading volume of 393,200 shares, compared to its average volume of 463,007. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.20. Globe Life Inc. has a 12-month low of $69.68 and a 12-month high of $99.62. The firm has a market capitalization of $10.71 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.80 and a beta of 0.95. The business’s 50 day simple moving average is $95.56.
Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Globe Life had a return on equity of 12.21% and a net margin of 16.57%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.59 earnings per share. Analysts predict that Globe Life Inc. will post 6.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a dividend of $0.172 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.69 dividend on an annualized basis and a yield of 0.70%. Globe Life’s payout ratio is 11.26%.
In related news, Director David L. Boren sold 10,900 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $87.02, for a total value of $948,518.00. Following the completion of the transaction, the director now directly owns 203 shares in the company, valued at $17,665.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven John Dichiaro sold 18,500 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $98.13, for a total value of $1,815,405.00. 3.64% of the stock is currently owned by insiders.
A number of analysts recently weighed in on the company. UBS Group decreased their price target on Globe Life from $85.00 to $84.00 and set a “sell” rating on the stock in a research note on Thursday, October 10th. Credit Suisse Group assumed coverage on Globe Life in a research note on Friday, September 20th. They issued an “outperform” rating and a $114.00 price target on the stock. Zacks Investment Research upgraded Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, September 3rd. Finally, ValuEngine upgraded Globe Life from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.
Globe Life Company Profile
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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