Janney Montgomery Scott LLC lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 21.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,207 shares of the company’s stock after acquiring an additional 4,929 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Globe Life were worth $2,094,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of GL. Macquarie Group Ltd. lifted its holdings in Globe Life by 118.9% during the 4th quarter. Macquarie Group Ltd. now owns 248,125 shares of the company’s stock worth $26,115,000 after purchasing an additional 134,800 shares during the last quarter. Norges Bank acquired a new stake in Globe Life during the 4th quarter worth approximately $120,501,000. State of Alaska Department of Revenue lifted its holdings in Globe Life by 8.4% during the 1st quarter. State of Alaska Department of Revenue now owns 62,831 shares of the company’s stock worth $4,521,000 after purchasing an additional 4,867 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. lifted its holdings in Globe Life by 28.7% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 74,024 shares of the company’s stock worth $5,328,000 after purchasing an additional 16,500 shares during the last quarter. Finally, Arden Trust Co acquired a new stake in Globe Life during the 1st quarter worth approximately $74,000. Institutional investors own 74.04% of the company’s stock.
Several research firms recently weighed in on GL. SunTrust Banks dropped their price target on Globe Life from $108.00 to $79.00 and set a “hold” rating for the company in a report on Friday, April 24th. Credit Suisse Group reaffirmed a “buy” rating on shares of Globe Life in a report on Thursday, July 23rd. Zacks Investment Research cut Globe Life from a “hold” rating to a “sell” rating and set a $76.00 price objective for the company. in a report on Friday, June 26th. Morgan Stanley lifted their price objective on Globe Life from $78.00 to $80.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. Finally, ValuEngine cut Globe Life from a “hold” rating to a “sell” rating in a report on Thursday, April 30th. Five research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $84.86.
Shares of GL opened at $79.60 on Friday. Globe Life Inc. has a 52-week low of $56.74 and a 52-week high of $111.43. The business’s fifty day moving average is $75.06 and its 200-day moving average is $83.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 11.97 and a beta of 1.10.
Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.12. Globe Life had a return on equity of 10.60% and a net margin of 15.84%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $1.67 EPS. As a group, research analysts forecast that Globe Life Inc. will post 6.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were paid a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.75 annualized dividend and a dividend yield of 0.94%. Globe Life’s payout ratio is 11.11%.
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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