Swiss National Bank Has $31.85 Million Stake in Globe Life Inc. (NYSE:GL)

Swiss National Bank cut its holdings in Globe Life Inc. (NYSE:GLFree Report) by 11.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 292,900 shares of the company’s stock after selling 38,300 shares during the period. Swiss National Bank owned approximately 0.31% of Globe Life worth $31,847,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GL. Sunbelt Securities Inc. acquired a new position in shares of Globe Life in the first quarter valued at about $29,000. AM Squared Ltd acquired a new stake in Globe Life during the first quarter worth about $44,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Globe Life during the third quarter worth about $48,000. First Command Advisory Services Inc. acquired a new stake in Globe Life during the third quarter worth about $61,000. Finally, Penserra Capital Management LLC acquired a new stake in Globe Life during the second quarter worth about $62,000. 80.04% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 2.0 %

Shares of NYSE GL opened at $124.95 on Friday. The company has a 50 day simple moving average of $122.06 and a 200 day simple moving average of $116.38. The firm has a market cap of $11.76 billion, a PE ratio of 12.40 and a beta of 0.70. Globe Life Inc. has a 1 year low of $102.23 and a 1 year high of $125.18. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.06 and a quick ratio of 0.06.

Globe Life (NYSE:GLGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.75%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $2.24 EPS. On average, research analysts forecast that Globe Life Inc. will post 11.42 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were issued a $0.225 dividend. The ex-dividend date was Thursday, January 4th. This represents a $0.90 dividend on an annualized basis and a yield of 0.72%. Globe Life’s dividend payout ratio (DPR) is presently 8.93%.

Insider Activity at Globe Life

In related news, CAO Michael Shane Henrie sold 6,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $117.57, for a total value of $799,476.00. Following the completion of the transaction, the chief accounting officer now owns 700 shares in the company, valued at approximately $82,299. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Globe Life news, CMO Jennifer Allison Haworth sold 2,524 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $121.37, for a total transaction of $306,337.88. Following the completion of the transaction, the chief marketing officer now owns 8,606 shares in the company, valued at approximately $1,044,510.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael Shane Henrie sold 6,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $117.57, for a total transaction of $799,476.00. Following the transaction, the chief accounting officer now owns 700 shares of the company’s stock, valued at approximately $82,299. The disclosure for this sale can be found here. Insiders sold a total of 55,303 shares of company stock worth $6,668,455 in the last quarter. 4.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GL has been the topic of a number of analyst reports. Wells Fargo & Company upgraded shares of Globe Life from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $122.00 to $137.00 in a research note on Tuesday, October 31st. StockNews.com upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley raised their price target on shares of Globe Life from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Raymond James raised their price target on shares of Globe Life from $138.00 to $160.00 and gave the company a “strong-buy” rating in a research note on Monday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

Get Our Latest Analysis on Globe Life

Globe Life Company Profile

(Free Report)

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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