Captrust Financial Advisors cut its stake in Globe Life Inc. (NYSE:GL - Free Report) by 15.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,846 shares of the company's stock after selling 2,210 shares during the quarter. Captrust Financial Advisors' holdings in Globe Life were worth $1,321,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Globe Life during the fourth quarter worth $112,454,000. Raymond James Financial Inc. purchased a new stake in Globe Life during the 4th quarter valued at about $61,238,000. Swedbank AB purchased a new stake in Globe Life during the 4th quarter valued at about $52,414,000. Freestone Grove Partners LP purchased a new position in Globe Life in the 4th quarter worth approximately $52,178,000. Finally, Marshall Wace LLP lifted its stake in Globe Life by 1,702.5% in the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock worth $54,053,000 after purchasing an additional 457,802 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.
Globe Life Stock Down 0.6%
Shares of GL opened at $119.41 on Thursday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.94 billion, a P/E ratio of 9.99 and a beta of 0.56. The company's 50-day moving average price is $123.29 and its 200 day moving average price is $117.37. Globe Life Inc. has a 12-month low of $76.55 and a 12-month high of $133.76.
Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Globe Life's revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $2.78 earnings per share. On average, sell-side analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.
Globe Life Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Globe Life's dividend payout ratio is currently 8.79%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Piper Sandler reduced their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, BMO Capital Markets started coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and an average target price of $137.00.
Read Our Latest Report on Globe Life
About Globe Life
(
Free Report)
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.
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Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL - Free Report).
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