Hartford Investment Management Co. lowered its holdings in Globe Life Inc. (NYSE:GL – Free Report) by 8.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,151 shares of the company’s stock after selling 942 shares during the period. Hartford Investment Management Co.’s holdings in Globe Life were worth $1,117,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GL. Wellington Management Group LLP raised its stake in Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after buying an additional 1,973,186 shares in the last quarter. BlackRock Inc. raised its stake in Globe Life by 0.9% during the first quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock valued at $655,963,000 after buying an additional 57,587 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Globe Life by 112.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,265,399 shares of the company’s stock valued at $273,093,000 after buying an additional 1,199,227 shares in the last quarter. Invesco Ltd. raised its stake in Globe Life by 36.3% during the first quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock valued at $191,981,000 after buying an additional 508,064 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Globe Life by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 1,905,424 shares of the company’s stock valued at $229,298,000 after buying an additional 102,296 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.
Globe Life Stock Performance
Shares of NYSE GL opened at $112.44 on Friday. The stock has a fifty day moving average price of $111.17 and a two-hundred day moving average price of $111.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $10.66 billion, a P/E ratio of 13.14 and a beta of 0.79. Globe Life Inc. has a 1 year low of $96.23 and a 1 year high of $123.85.
Globe Life Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Wednesday, July 5th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Monday, July 3rd. Globe Life’s payout ratio is currently 10.51%.
Insider Buying and Selling at Globe Life
In other news, Director Cheryl Alston sold 16,691 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $108.81, for a total transaction of $1,816,147.71. Following the completion of the sale, the director now directly owns 6,238 shares of the company’s stock, valued at approximately $678,756.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Frank M. Svoboda sold 12,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $113.57, for a total transaction of $1,419,625.00. Following the completion of the sale, the chief executive officer now directly owns 3,370 shares of the company’s stock, valued at approximately $382,730.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Cheryl Alston sold 16,691 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $108.81, for a total value of $1,816,147.71. Following the completion of the sale, the director now owns 6,238 shares of the company’s stock, valued at approximately $678,756.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,191 shares of company stock valued at $3,347,833. 4.33% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
GL has been the topic of several research reports. StockNews.com initiated coverage on Globe Life in a research note on Thursday. They set a “hold” rating on the stock. Piper Sandler upped their price objective on Globe Life from $130.00 to $131.00 in a research note on Friday, July 28th. Wells Fargo & Company began coverage on Globe Life in a research report on Tuesday, April 25th. They set an “equal weight” rating and a $120.00 price target on the stock. Finally, Morgan Stanley upgraded Globe Life from an “underweight” rating to an “equal weight” rating and set a $131.00 price target on the stock in a research report on Friday. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $130.14.
Check Out Our Latest Report on Globe Life
Globe Life Profile
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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