D. E. Shaw & Co. Inc. trimmed its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 22.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 679,779 shares of the company's stock after selling 199,963 shares during the period. D. E. Shaw & Co. Inc. owned about 0.81% of Globe Life worth $75,809,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of GL. Private Trust Co. NA grew its holdings in Globe Life by 12.5% in the fourth quarter. Private Trust Co. NA now owns 754 shares of the company's stock worth $84,000 after purchasing an additional 84 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Globe Life by 4.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock worth $276,000 after purchasing an additional 87 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after purchasing an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in Globe Life by 2.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock valued at $472,000 after purchasing an additional 100 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.
Globe Life Stock Performance
Shares of NYSE:GL traded up $1.28 on Thursday, hitting $120.56. 284,457 shares of the company were exchanged, compared to its average volume of 864,629. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 10.08 and a beta of 0.56. The company's 50 day moving average price is $123.29 and its two-hundred day moving average price is $117.37. Globe Life Inc. has a one year low of $76.55 and a one year high of $133.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.
Globe Life (NYSE:GL - Get Free Report) last announced its 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). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. Globe Life's revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts expect 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. Shareholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio is currently 8.79%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on GL. Morgan Stanley reduced their price target on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. BMO Capital Markets began coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company dropped their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.00.
Get Our Latest Report on GL
Globe Life Profile
(
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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