Hayek Kallen Investment Management purchased a new stake in shares of Globe Life Inc. (NYSE:GL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,037 shares of the company’s stock, valued at approximately $674,000.
A number of other hedge funds have also added to or reduced their stakes in GL. California Public Employees Retirement System acquired a new stake in Globe Life during the 3rd quarter valued at $88,278,000. SPF Beheer BV bought a new position in Globe Life in the 3rd quarter valued at $85,160,000. PGGM Investments bought a new position in Globe Life in the 3rd quarter valued at $50,205,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Globe Life in the 3rd quarter valued at $40,947,000. Finally, Anchor Capital Advisors LLC bought a new position in Globe Life in the 3rd quarter valued at $28,014,000. 74.05% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on GL shares. UBS Group decreased their price objective on Globe Life from $85.00 to $84.00 and set a “sell” rating on the stock in a research report on Thursday, October 10th. Credit Suisse Group started coverage on Globe Life in a research report on Friday, September 20th. They issued an “outperform” rating and a $114.00 price objective on the stock. ValuEngine upgraded Globe Life from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research upgraded Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, September 3rd.
In other news, insider Steven John Dichiaro sold 18,500 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $98.13, for a total value of $1,815,405.00. Also, Director David L. Boren sold 10,900 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $87.02, for a total value of $948,518.00. Following the completion of the transaction, the director now owns 203 shares in the company, valued at $17,665.06. The disclosure for this sale can be found here. 3.64% of the stock is owned by company insiders.
GL traded down $0.01 during mid-day trading on Friday, reaching $98.93. The stock had a trading volume of 393,200 shares, compared to its average volume of 463,007. The company has a market cap of $10.71 billion, a PE ratio of 16.14, a P/E/G ratio of 1.80 and a beta of 0.95. 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 stock has a fifty day moving average price of $95.56. Globe Life Inc. has a 52 week low of $69.68 and a 52 week high of $99.62.
Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Globe Life had a return on equity of 12.21% and a net margin of 16.57%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $1.59 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Globe Life Inc. will post 6.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a $0.172 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.69 annualized dividend and a dividend yield of 0.70%. Globe Life’s dividend payout ratio is currently 11.26%.
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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