California Public Employees Retirement System lifted its holdings in shares of Globe Life Inc. (NYSE:GL – Get Rating) by 5.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 227,989 shares of the company’s stock after acquiring an additional 12,595 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Globe Life worth $27,484,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Globe Life by 7.2% during the 1st quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock worth $9,448,000 after acquiring an additional 6,299 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Globe Life by 3.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock valued at $1,464,000 after buying an additional 538 shares during the period. American Century Companies Inc. raised its holdings in Globe Life by 26.8% during the first quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock worth $1,354,000 after purchasing an additional 2,848 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Globe Life by 3.0% in the first quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock worth $477,000 after acquiring an additional 137 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Globe Life by 23.9% in the first quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock valued at $2,557,000 after purchasing an additional 4,897 shares during the period. 81.04% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Globe Life
In other news, EVP Robert Brian Mitchell sold 38,000 shares of Globe Life stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $121.45, for a total transaction of $4,615,100.00. Following the completion of the sale, the executive vice president now directly owns 4,310 shares in the company, valued at approximately $523,449.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Globe Life news, EVP Robert Brian Mitchell sold 38,000 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $121.45, for a total value of $4,615,100.00. Following the transaction, the executive vice president now owns 4,310 shares of the company’s stock, valued at $523,449.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Michael Shane Henrie sold 2,225 shares of the company’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $110.29, for a total value of $245,395.25. Following the transaction, the chief accounting officer now directly owns 700 shares in the company, valued at approximately $77,203. The disclosure for this sale can be found here. Insiders have sold a total of 91,125 shares of company stock valued at $10,994,960 in the last 90 days. 4.33% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Globe Life Stock Performance
Shares of Globe Life stock opened at $107.79 on Thursday. The firm’s fifty day simple moving average is $109.47 and its 200-day simple moving average is $115.22. Globe Life Inc. has a 12 month low of $87.87 and a 12 month high of $123.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 13.29 and a beta of 0.79.
Globe Life (NYSE:GL – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.06. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.36 billion. Globe Life had a net margin of 15.28% and a return on equity of 18.20%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.70 EPS. As a group, equities analysts forecast that Globe Life Inc. will post 10.36 earnings per share for the current year.
Globe Life Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 3rd were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from Globe Life’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, March 31st. Globe Life’s dividend payout ratio (DPR) is 11.10%.
Globe Life 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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