According to the most recent filing that the company made with the Securities and Exchange Commission, Victory Capital Management Inc. increased its holdings in Globe Life Inc. (NYSE: GL) during the third quarter. The company provided this information. The corporation has 376,599 shares in its possession after purchasing an additional 21,547 shares during the period in question. This brings the total number of shares owned by the corporation to 376,599. According to the most recent SEC report that Victory Capital Management Inc. filed, the company held 0.39% of Globe Life, which was worth $37,547,000 at the time of the filing.
Recent events have resulted in modifications to the stock holdings that particular institutional investors and hedge funds have in their portfolios. During the third quarter, Brinker Capital Investments LLC made a 3.1% purchase of additional Globe Life stock, bringing the total amount of the company’s ownership to 100%. Since the end of the previous reporting period, Brinker Capital Investments LLC has added 224 shares to the total number of shares it holds in the company, bringing the total number of shares held in the company to 7,449, with a value of $743,000 (as of today’s closing). During the third quarter, Kestra Advisory Services LLC increased the amount of Globe Life stock that is owned by 10.3%, bringing the total amount of Globe Life stock that it owned to a total of 1.1%. Kestra Advisory Services LLC now has 9,563 shares in the corporation, with a value of $953,000. This is a result of the purchase of an additional 890 shares during the most recent fiscal quarter. Parkside Financial Bank & Trust increased the amount of Globe Life stock owned by 8.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,238 shares in the corporation, valued at $123,000, following purchasing of an additional 94 shares during the most recent fiscal quarter. The Great West Life Assurance Company of Canada spent an additional $5,934,000 during the third quarter to expand its shareholdings in the Globe Life insurance company. And finally, during the third quarter, Smith, Salley & Associates made a fresh investment in Globe Life valued at 519 thousand dollars. Institutional investors and hedge funds collectively own 81.04% of the total number of shares issued by the company. These types of investors hold the majority of the company’s stock.
Recently, the subject of GL has been the primary focus of several different research publications. Credit Suisse Group upgraded Globe Life from an “outperform” rating to a “buy” rating, and their price objective on the stock was raised from $130.00 to $140.00 in a report published on Monday, December 19. The target price for Globe Life was increased from $115.00 to $132.00, and the company was evaluated as “underweight” in a research report published by Morgan Stanley on January 10. JPMorgan Chase & Co. raised their price target for Globe Life from $112.00 to $126.00 and gave the company an “overweight” rating in research that was made public on Friday, January 6. Trust Financial raised its price target for Globe Life from $100.00 to $112.00 and assigned the company a “hold” rating in a report made available to the general public on Friday, October 28. Globe Life was the first company covered by StockNews.com when it launched on October 12. They advised their clients to “hold” the stock moving forward. Four financial analysts have issued a recommendation to buy the stock; four other analysts have issued a recommendation to hold the stock; one analyst has issued a recommendation to sell the stock; and one analyst has issued a recommendation to strongly buy the stock. Bloomberg has informed investors that the current consensus rating for Globe Life is “Moderate Buy” and that the price target has been established at $124.50.
The company’s Chief Executive Officer, Larry M. Hutchison, completed a transaction on Friday, December 30, which led to the sale of 12,000 shares of the company’s stock. The sale of the stock resulted in total revenue of $1,235,760.00, with the price of each share averaging out to be $102,98. After the completion of the transaction, the CEO will have direct ownership of 730,792 shares of company stock. Based on the current market price, these shares are estimated to be worth $75,256,960.16. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately. In other news, Larry M. Hutchison, Chief Executive Officer of Globe Life, sold 12,000 shares of the company’s stock on December 30. This transaction was reported on December 30. The sale of the stock resulted in total revenue of $1,235,760.00, with the price of each share averaging out to be $102,98. Following the successful completion of the transaction, the Chief Executive Officer (CEO) now directly owns 730,792 shares of the company. The current market value of these shares is $75,256,960.16. Additional information regarding the transaction can be found in a document sent to the SEC and is now available online. In additional news, Globe Life insider Kenneth J. Matson sold 2,573 shares of the company’s stock on Tuesday, December 13. It was determined that each share was sold at an average price of $116.17, which led to a total sale volume of 298,905.41 dollars. The price at which the shares were sold was determined to be $116.17. Following the transaction, the insider now owns 29,153 shares of the company’s stock, with a market value of 3,386,704.01 dollars. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company sold a total of 110,571 shares of company stock for a sum of $12,563,268 over the preceding three months. The current percentage of the company’s shares held by company insiders is 4.62%.
When trading started on Friday, the price of a share of GL was $117.42 per share. The debt-to-equity ratio comes in at 0.37, the current ratio is 0.05, and the quick ratio comes in at the same number. There is no difference between any of the three ratios. The company has a market value of $11.42 billion thanks to a price-to-earnings ratio of 16.56 and a beta value of 0.82, both of which contribute to the company’s overall value. The moving average of the company’s stock price over the past 50 days is $118.37, and the moving average over the last 200 days is $108. During the past year, Globe Life Inc. has seen a one-year low of $87.87 and a one-year high of $123.85, respectively.
Wednesday, October 26, was the day that Globe Life (NYSE: GL) presented its most recent quarterly results report to investors. This report was for the company’s most recent quarter. The company’s quarterly earnings came in at $2.15 per share, which is $0.04 higher than the analysts’ consensus estimate of $2.11 per share for the company’s quarterly earnings. The company’s quarterly revenue was reported to be $1.32 billion, which is lower than the consensus estimate of $1.33 billion provided by industry analysts. Globe Life achieved a return on equity of 12.02%, and the company’s net margin came in at 13.61%. Sell-side analysts anticipate that Globe Life Inc. will generate $8.09 in earnings per share during the current fiscal year. These estimates were derived from historical data.
Furthermore, the corporation recently announced a quarterly dividend that will be distributed on February 1. A $0.2075 dividend payment will be made to ” recorded ” investors as of the close of business on Friday, January 6. This gives us a yield of 0.71% and a dividend payment of $0.83 each year because of this situation. This dividend will either be paid out or not on January 5, as that is the date that will be used to make the decision. The dividend payout ratio for Globe Life currently stands at 11.71 percent at present.
