Amalgamated Bank Sells 1,636 Shares of Globe Life Inc. (NYSE:GL)

Amalgamated Bank lessened its stake in Globe Life Inc. (NYSE:GLGet Rating) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,753 shares of the company’s stock after selling 1,636 shares during the quarter. Amalgamated Bank’s holdings in Globe Life were worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc bought a new position in Globe Life during the 1st quarter worth approximately $31,000. Johnson Financial Group Inc. bought a new position in Globe Life during the 4th quarter worth approximately $42,000. Lloyd Advisory Services LLC. bought a new position in Globe Life during the 1st quarter worth approximately $90,000. Shell Asset Management Co. boosted its stake in Globe Life by 75.2% during the 1st quarter. Shell Asset Management Co. now owns 1,079 shares of the company’s stock worth $109,000 after acquiring an additional 463 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Globe Life by 1,158.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,221 shares of the company’s stock worth $114,000 after acquiring an additional 1,124 shares during the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Insider Buying and Selling at Globe Life

In other Globe Life news, insider Steven John Dichiaro sold 10,000 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $102.30, for a total value of $1,023,000.00. Following the transaction, the insider now directly owns 8,372 shares in the company, valued at $856,455.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Steven John Dichiaro sold 10,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $102.30, for a total value of $1,023,000.00. Following the transaction, the insider now directly owns 8,372 shares in the company, valued at $856,455.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael Shane Henrie sold 800 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $100.64, for a total transaction of $80,512.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,963 shares of company stock worth $6,924,008 over the last ninety days. Insiders own 4.62% of the company’s stock.

Globe Life Stock Performance

Shares of GL stock opened at $102.80 on Friday. The firm has a market cap of $10.02 billion, a PE ratio of 14.62 and a beta of 0.88. Globe Life Inc. has a 12 month low of $85.25 and a 12 month high of $108.61. The company’s fifty day simple moving average is $100.57 and its 200-day simple moving average is $99.14. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GLGet Rating) last issued its earnings results on Wednesday, July 27th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.33 billion. Globe Life had a net margin of 13.68% and a return on equity of 9.90%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.85 earnings per share.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.2075 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.83 annualized dividend and a dividend yield of 0.81%. Globe Life’s dividend payout ratio is currently 11.81%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $108.00 to $112.00 in a research note on Monday, July 11th. Piper Sandler lifted their price target on shares of Globe Life from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, July 8th. Raymond James started coverage on shares of Globe Life in a research note on Wednesday. They issued a “strong-buy” rating and a $138.00 price target on the stock. Morgan Stanley lifted their price target on shares of Globe Life from $109.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, August 17th. Finally, Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $112.00 in a research note on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.25.

Globe Life Profile

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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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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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