Daiwa Securities Group Inc. purchased a new position in shares of Globe Life Inc. (NYSE:GL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 143,093 shares of the company’s stock, valued at approximately $13,702,000. Daiwa Securities Group Inc. owned 0.13% of Globe Life as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the stock. California Public Employees Retirement System acquired a new stake in shares of Globe Life during the third quarter worth approximately $88,278,000. SPF Beheer BV acquired a new stake in shares of Globe Life during the third quarter worth approximately $85,160,000. PGGM Investments acquired a new stake in shares of Globe Life during the third quarter worth approximately $50,205,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Globe Life during the third quarter worth approximately $40,947,000. Finally, Anchor Capital Advisors LLC acquired a new stake in shares of Globe Life during the third quarter worth approximately $28,014,000. Institutional investors and hedge funds own 74.05% of the company’s stock.
NYSE GL traded down $0.01 during trading on Friday, reaching $98.93. The company’s stock had a trading volume of 19,784 shares, compared to its average volume of 384,951. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $10.71 billion, a PE ratio of 16.14, a PEG ratio of 1.80 and a beta of 0.95. The stock has a 50-day simple moving average of $95.48. Globe Life Inc. has a 1-year low of $69.68 and a 1-year high of $99.62.
Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Globe Life had a net margin of 16.57% and a return on equity of 12.21%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share. On average, sell-side analysts expect that Globe Life Inc. will post 6.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Thursday, October 3rd. Globe Life’s payout ratio is 11.26%.
In other news, Director David L. Boren sold 10,900 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $87.02, for a total value of $948,518.00. Following the completion of the sale, the director now directly owns 203 shares in the company, valued at $17,665.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven John Dichiaro sold 18,500 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $98.13, for a total transaction of $1,815,405.00. 3.64% of the stock is currently owned by insiders.
Several research firms recently commented on GL. Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Tuesday, September 3rd. Credit Suisse Group began coverage on shares of Globe Life in a report on Friday, September 20th. They set an “outperform” rating and a $114.00 price target for the company. UBS Group reduced their target price on shares of Globe Life from $85.00 to $84.00 and set a “sell” rating for the company in a research note on Thursday, October 10th. Finally, ValuEngine upgraded shares of Globe Life from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.
Globe Life Company 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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