US Asset Management LLC Decreases Stake in Globe Life Inc. (NYSE:GL)

US Asset Management LLC lessened its stake in shares of Globe Life Inc. (NYSE:GL) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,672 shares of the company’s stock after selling 335 shares during the period. US Asset Management LLC’s holdings in Globe Life were worth $714,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GL. Norges Bank purchased a new stake in Globe Life in the fourth quarter valued at approximately $123,682,000. Nordea Investment Management AB boosted its holdings in shares of Globe Life by 10,526.9% in the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock valued at $116,061,000 after acquiring an additional 989,319 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after acquiring an additional 822,638 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Globe Life by 146.3% during the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock worth $76,552,000 after purchasing an additional 552,634 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Globe Life by 3.9% during the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after purchasing an additional 425,993 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Trading Up 1.5 %

GL opened at $103.83 on Friday. The stock has a market capitalization of $9.33 billion, a PE ratio of 9.92 and a beta of 0.81. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The business’s 50 day moving average price is $94.71 and its 200 day moving average price is $93.30.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $2.61 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Evercore ISI raised their price target on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Jefferies Financial Group upped their price objective on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Finally, Morgan Stanley raised their target price on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $108.33.

Insider Activity

In other news, Director Mary E. Thigpen bought 3,000 shares of Globe Life stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares in the company, valued at $1,407,571. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.51% of the company’s stock.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.