Globe Life Inc. (NYSE:GL) Shares Sold by Pensionfund Sabic

Pensionfund Sabic reduced its stake in shares of Globe Life Inc. (NYSE:GL) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,800 shares of the company’s stock after selling 500 shares during the quarter. Pensionfund Sabic’s holdings in Globe Life were worth $1,038,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GL. Nordea Investment Management AB increased its position in shares of Globe Life by 10,526.9% in the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after purchasing an additional 989,319 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after purchasing an additional 859,146 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after buying an additional 822,638 shares during the last quarter. Millennium Management LLC raised its stake in Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after buying an additional 817,760 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in Globe Life by 146.3% during the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock worth $76,552,000 after buying an additional 552,634 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GL has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their price target on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI boosted their price objective on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Finally, TD Cowen initiated coverage on Globe Life in a research report on Wednesday. They set a “buy” rating and a $150.00 price target on the stock. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $114.60.

Insiders Place Their Bets

In related news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.51% of the stock is owned by insiders.

Globe Life Stock Performance

Shares of GL stock opened at $106.43 on Friday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 9.62 and a beta of 0.81. The business has a 50 day simple moving average of $101.54 and a 200 day simple moving average of $91.17.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.61 earnings per share. On average, equities research analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.90%. Globe Life’s payout ratio is 8.68%.

About Globe Life

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.