Public Employees Retirement System of Ohio acquired a new stake in Globe Life Inc. (NYSE:GL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 63,894 shares of the company’s stock, valued at approximately $6,118,000. Public Employees Retirement System of Ohio owned approximately 0.06% of Globe Life at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in GL. State Street Corp purchased a new stake in Globe Life during the third quarter worth approximately $505,144,000. Boston Partners purchased a new position in Globe Life in the third quarter valued at approximately $138,276,000. California Public Employees Retirement System purchased a new position in Globe Life in the third quarter valued at approximately $88,278,000. SPF Beheer BV purchased a new position in Globe Life in the third quarter valued at approximately $85,160,000. Finally, PGGM Investments acquired a new stake in Globe Life during the third quarter worth approximately $50,205,000. 73.53% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Tuesday, September 3rd. Credit Suisse Group initiated coverage on Globe Life in a research report on Friday, September 20th. They set an “outperform” rating and a $114.00 target price on the stock. UBS Group decreased their target price on Globe Life from $85.00 to $84.00 and set a “sell” rating for the company in a research report on Thursday, October 10th. Finally, ValuEngine upgraded Globe Life from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.
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, beating the Zacks’ consensus estimate of $1.69 by $0.04. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Globe Life had a net margin of 16.57% and a return on equity of 11.61%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.59 EPS. On average, analysts forecast that Globe Life Inc. will post 6.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.172 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.69 annualized dividend and a yield of 0.67%. Globe Life’s dividend payout ratio (DPR) is currently 11.26%.
In other Globe Life news, CAO Michael Shane Henrie sold 1,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $99.41, for a total transaction of $99,410.00. Following the sale, the chief accounting officer now owns 1,000 shares in the company, valued at approximately $99,410. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Darren M. Rebelez sold 5,269 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $101.36, for a total value of $534,065.84. Following the transaction, the director now directly owns 23,734 shares of the company’s stock, valued at approximately $2,405,678.24. The disclosure for this sale can be found here. Insiders have sold a total of 132,169 shares of company stock valued at $13,086,963 over the last 90 days. 3.64% of the stock is currently owned by insiders.
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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