Globe Life Inc. (NYSE:GL) Shares Sold by Barings LLC

Barings LLC trimmed its holdings in Globe Life Inc. (NYSE:GL) by 32.4% during the second quarter, HoldingsChannel.com reports. The firm owned 2,697 shares of the company’s stock after selling 1,291 shares during the period. Barings LLC’s holdings in Globe Life were worth $257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Quadrant Capital Group LLC raised its position in shares of Globe Life by 41.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 408 shares of the company’s stock valued at $39,000 after acquiring an additional 120 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in shares of Globe Life during the 2nd quarter valued at approximately $60,000. Parallel Advisors LLC raised its position in shares of Globe Life by 343.2% during the 2nd quarter. Parallel Advisors LLC now owns 647 shares of the company’s stock valued at $62,000 after acquiring an additional 501 shares in the last quarter. CSat Investment Advisory L.P. raised its position in shares of Globe Life by 22.0% during the 1st quarter. CSat Investment Advisory L.P. now owns 844 shares of the company’s stock valued at $82,000 after acquiring an additional 152 shares in the last quarter. Finally, Ossiam acquired a new stake in shares of Globe Life during the 1st quarter valued at approximately $100,000. 73.93% of the stock is currently owned by institutional investors.

In other news, insider Steven John Dichiaro sold 617 shares of the stock in a transaction on Friday, July 30th. The stock was sold at an average price of $93.96, for a total value of $57,973.32. Following the completion of the transaction, the insider now owns 17,356 shares of the company’s stock, valued at $1,630,769.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert W. Ingram sold 1,350 shares of the stock in a transaction on Thursday, August 12th. The stock was sold at an average price of $97.38, for a total value of $131,463.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,350 shares of company stock valued at $785,545. Company insiders own 4.30% of the company’s stock.

Several research firms recently issued reports on GL. Zacks Investment Research lowered Globe Life from a “buy” rating to a “hold” rating in a research report on Monday, September 20th. Piper Sandler dropped their price target on Globe Life from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, July 8th. They noted that the move was a valuation call. Finally, Credit Suisse Group upped their price target on Globe Life from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, June 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $109.20.

Shares of NYSE GL opened at $88.76 on Friday. Globe Life Inc. has a 1-year low of $76.87 and a 1-year high of $108.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.08 and a quick ratio of 0.08. The business’s fifty day moving average price is $93.53 and its two-hundred day moving average price is $98.24. The firm has a market capitalization of $9.03 billion, a PE ratio of 12.14 and a beta of 1.15.

Globe Life (NYSE:GL) last issued its earnings results on Tuesday, July 20th. The company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.03. Globe Life had a return on equity of 8.66% and a net margin of 15.55%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Monday, October 4th will be paid a $0.1975 dividend. The ex-dividend date of this dividend is Friday, October 1st. This represents a $0.79 annualized dividend and a dividend yield of 0.89%.

About Globe Life

Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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