Hayek Kallen Investment Management bought a new position in Globe Life Inc. (NYSE:GL) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 7,037 shares of the company’s stock, valued at approximately $674,000.
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A number of other large investors have also modified their holdings of the stock. California Public Employees Retirement System purchased a new position in Globe Life in the 3rd quarter worth $88,278,000. SPF Beheer BV purchased a new position in shares of Globe Life in the third quarter valued at about $85,160,000. PGGM Investments purchased a new position in shares of Globe Life in the third quarter valued at about $50,205,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Globe Life in the third quarter valued at about $40,947,000. Finally, Anchor Capital Advisors LLC purchased a new position in shares of Globe Life in the third quarter valued at about $28,014,000. Institutional investors own 74.05% of the company’s stock.
A number of research firms have issued reports on GL. UBS Group decreased their price objective on shares of Globe Life from $85.00 to $84.00 and set a “sell” rating on the stock in a research report on Thursday, October 10th. ValuEngine upgraded shares of Globe Life from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Credit Suisse Group began coverage on shares of Globe Life in a research report on Friday, September 20th. They issued an “outperform” rating and a $114.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, September 3rd.
Shares of GL stock traded down $0.01 during mid-day trading on Friday, reaching $98.93. The stock had a trading volume of 393,200 shares, compared to its average volume of 463,007. The company has a 50-day moving average price of $95.56. Globe Life Inc. has a 52-week low of $69.68 and a 52-week high of $99.62. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.80 and a beta of 0.95. 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 (NYSE:GL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. Globe Life had a net margin of 16.57% and a return on equity of 12.21%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company earned $1.59 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts forecast that Globe Life Inc. will post 6.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, October 3rd. Globe Life’s payout ratio is 11.26%.
In other news, insider Steven John Dichiaro sold 18,500 shares of Globe Life stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $98.13, for a total transaction of $1,815,405.00. Also, Director David L. Boren sold 10,900 shares of Globe Life stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $87.02, for a total transaction of $948,518.00. Following the sale, the director now directly owns 203 shares in the company, valued at approximately $17,665.06. The disclosure for this sale can be found here. 3.64% of the stock is currently owned by insiders.
Globe Life 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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