Advisor Partners LLC Makes New $556,000 Investment in Globe Life Inc. (NYSE:GL)

Advisor Partners LLC purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,803 shares of the company’s stock, valued at approximately $556,000.

A number of other large investors have also modified their holdings of the business. PGGM Investments purchased a new stake in Globe Life during the third quarter worth about $50,205,000. Ingalls & Snyder LLC purchased a new stake in Globe Life during the third quarter worth about $15,975,000. Dalton Greiner Hartman Maher & Co. purchased a new stake in Globe Life during the third quarter worth about $9,332,000. State of Alaska Department of Revenue purchased a new stake in Globe Life during the third quarter worth about $6,046,000. Finally, Leith Wheeler Investment Counsel Ltd. purchased a new stake in Globe Life during the third quarter worth about $5,268,000. Institutional investors own 75.47% of the company’s stock.

GL has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, September 3rd. ValuEngine lowered shares of Globe Life from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Credit Suisse Group initiated coverage on shares of Globe Life in a research note on Friday, September 20th. They set an “outperform” rating and a $114.00 price target on the stock. Finally, UBS Group cut their price target on shares of Globe Life from $85.00 to $84.00 and set a “sell” rating on the stock in a research note on Thursday, October 10th.

In other Globe Life news, CEO Larry M. Hutchison sold 25,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $92.45, for a total value of $2,311,250.00. Following the transaction, the chief executive officer now directly owns 610,510 shares in the company, valued at $56,441,649.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vern D. Herbel sold 50,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the completion of the transaction, the executive vice president now owns 50,000 shares in the company, valued at $4,612,500. The disclosure for this sale can be found here. Insiders have sold 100,820 shares of company stock worth $9,241,936 over the last 90 days. Insiders own 3.64% of the company’s stock.

GL stock opened at $94.68 on Friday. The stock’s 50 day moving average price is $93.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life Inc. has a fifty-two week low of $69.68 and a fifty-two week high of $96.92. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.85 and a beta of 0.95.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 24th. The company reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.02. Globe Life had a net margin of 16.26% and a return on equity of 12.34%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. As a group, sell-side analysts forecast that Globe Life Inc. will post 6.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.172 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.73%. Globe Life’s payout ratio is 11.26%.

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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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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