Amalgamated Bank cut its stake in Globe Life Inc. (NYSE:GL – Get Rating) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,753 shares of the company’s stock after selling 1,636 shares during the quarter. Amalgamated Bank’s holdings in Globe Life were worth $3,194,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc purchased a new stake in Globe Life during the 1st quarter worth approximately $31,000. Johnson Financial Group Inc. purchased a new position in Globe Life in the fourth quarter valued at $42,000. Lloyd Advisory Services LLC. purchased a new position in Globe Life in the first quarter valued at $90,000. Shell Asset Management Co. increased its holdings in Globe Life by 75.2% in the first quarter. Shell Asset Management Co. now owns 1,079 shares of the company’s stock valued at $109,000 after buying an additional 463 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Globe Life by 1,158.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,221 shares of the company’s stock valued at $114,000 after buying an additional 1,124 shares during the last quarter. 81.82% of the stock is currently owned by hedge funds and other institutional investors.
Globe Life Price Performance
Shares of NYSE:GL opened at $102.80 on Friday. The company has a 50-day moving average price of $100.57 and a 200 day moving average price of $99.14. Globe Life Inc. has a 52 week low of $85.25 and a 52 week high of $108.61. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.31. The company has a market cap of $10.02 billion, a P/E ratio of 14.62 and a beta of 0.88.
Globe Life Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a dividend of $0.2075 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.83 annualized dividend and a dividend yield of 0.81%. Globe Life’s dividend payout ratio is currently 11.81%.
Analysts Set New Price Targets
GL has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Globe Life from $109.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, August 17th. JPMorgan Chase & Co. increased their target price on Globe Life from $108.00 to $112.00 in a report on Monday, July 11th. Piper Sandler raised their price objective on Globe Life from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, July 8th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $105.00 to $112.00 in a report on Wednesday, June 15th. Finally, Raymond James began coverage on Globe Life in a report on Wednesday. They set a “strong-buy” rating and a $138.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $114.25.
Insider Buying and Selling
In other news, CAO Michael Shane Henrie sold 800 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $100.64, for a total transaction of $80,512.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Michael Shane Henrie sold 800 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $100.64, for a total value of $80,512.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jason A. Harvey sold 2,013 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $103.19, for a total transaction of $207,721.47. Following the sale, the insider now directly owns 460 shares of the company’s stock, valued at approximately $47,467.40. The disclosure for this sale can be found here. Insiders sold 66,963 shares of company stock worth $6,924,008 in the last ninety days. Insiders own 4.62% of the company’s stock.
About Globe Life
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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