Pensionfund DSM Netherlands boosted its holdings in Globe Life Inc. (NYSE:GL) by 30.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,200 shares of the company’s stock after buying an additional 7,000 shares during the period. Pensionfund DSM Netherlands’ holdings in Globe Life were worth $2,918,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC purchased a new position in Globe Life in the 4th quarter valued at approximately $29,000. Inspire Advisors LLC purchased a new position in Globe Life in the 4th quarter valued at approximately $44,000. Neo Ivy Capital Management bought a new position in Globe Life in the 3rd quarter valued at $54,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Globe Life in the 4th quarter valued at $78,000. Finally, Vantage Consulting Group Inc bought a new position in Globe Life in the 4th quarter valued at $80,000. Institutional investors and hedge funds own 72.47% of the company’s stock.
In other Globe Life news, CAO Michael Shane Henrie sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 25th. The shares were sold at an average price of $97.40, for a total value of $316,550.00. Following the transaction, the chief accounting officer now owns 3,250 shares in the company, valued at $316,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Brian Mitchell sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $100.45, for a total transaction of $301,350.00. The disclosure for this sale can be found here. Insiders sold 120,150 shares of company stock valued at $11,921,669 over the last three months. 3.78% of the stock is currently owned by insiders.
GL has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Globe Life from $95.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, April 1st. Piper Sandler raised their price target on shares of Globe Life from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, January 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Globe Life from $99.00 to $103.00 and gave the company an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Globe Life presently has an average rating of “Hold” and an average price target of $97.50.
Globe Life stock opened at $98.89 on Thursday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $11.47 billion, a PE ratio of 15.01 and a beta of 1.13. The firm has a fifty day simple moving average of $97.61 and a two-hundred day simple moving average of $91.88. Globe Life Inc. has a twelve month low of $62.75 and a twelve month high of $102.25.
Globe Life (NYSE:GL) last posted its quarterly earnings results on Monday, February 1st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.17 billion. Globe Life had a net margin of 15.38% and a return on equity of 10.28%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.70 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Monday, April 5th will be paid a $0.1975 dividend. The ex-dividend date of this dividend is Thursday, April 1st. This is an increase from Globe Life’s previous quarterly dividend of $0.19. This represents a $0.79 annualized dividend and a yield of 0.80%.
Globe Life Company Profile
Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.
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