Mason Street Advisors LLC acquired a new position in shares of Globe Life Inc. (NYSE:GL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,300 shares of the company’s stock, valued at approximately $1,369,000.
A number of other hedge funds have also recently modified their holdings of the stock. CENTRAL TRUST Co acquired a new position in shares of Globe Life in the third quarter worth $29,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Globe Life in the third quarter worth $33,000. FinTrust Capital Advisors LLC acquired a new position in shares of Globe Life in the third quarter worth $36,000. Sandy Spring Bank acquired a new position in shares of Globe Life in the third quarter worth $36,000. Finally, CWM LLC acquired a new position in shares of Globe Life in the third quarter worth $43,000. 73.93% of the stock is owned by hedge funds and other institutional investors.
In other Globe Life news, EVP James Matthew Darden sold 2,400 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $98.93, for a total transaction of $237,432.00. Also, CFO Frank M. Svoboda sold 10,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.67, for a total value of $996,700.00. Following the sale, the chief financial officer now directly owns 116,533 shares of the company’s stock, valued at approximately $11,614,844.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,800 shares of company stock valued at $13,402,005. Company insiders own 3.64% of the company’s stock.
Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Globe Life had a return on equity of 11.61% and a net margin of 16.57%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 earnings per share. Research analysts forecast that Globe Life Inc. will post 6.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 0.69%. The ex-dividend date was Thursday, October 3rd. Globe Life’s dividend payout ratio is currently 11.26%.
A number of equities analysts have recently weighed in on the company. UBS Group cut their price target on Globe Life from $85.00 to $84.00 and set a “sell” rating for the company in a report on Thursday, October 10th. ValuEngine raised Globe Life from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Zacks Investment Research raised Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Tuesday, September 3rd. Morgan Stanley lifted their price objective on Globe Life from $87.00 to $88.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Credit Suisse Group initiated coverage on Globe Life in a research report on Friday, September 20th. They issued an “outperform” rating and a $114.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $96.25.
About Globe Life
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.
Read More: Call Option
Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.