Franklin Resources Inc. lessened its position in Globe Life Inc. (NYSE:GL - Free Report) by 20.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 112,120 shares of the company's stock after selling 28,401 shares during the quarter. Franklin Resources Inc. owned approximately 0.13% of Globe Life worth $12,196,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Riverview Trust Co acquired a new stake in Globe Life during the 3rd quarter worth about $32,000. True Wealth Design LLC acquired a new stake in shares of Globe Life during the third quarter worth approximately $59,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock worth $50,000 after purchasing an additional 281 shares during the period. LRI Investments LLC grew its position in Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company's stock valued at $51,000 after purchasing an additional 557 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in Globe Life in the 2nd quarter valued at approximately $54,000. Institutional investors and hedge funds own 81.61% of the company's stock.
GL has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Finally, TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.10.
Check Out Our Latest Research Report on Globe Life
Shares of GL stock opened at $109.39 on Friday. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a market cap of $9.18 billion, a PE ratio of 9.25 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The business's 50 day moving average is $108.09 and its two-hundred day moving average is $98.63.
Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. Globe Life's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $2.71 EPS. Equities analysts predict that Globe Life Inc. will post 12.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio (DPR) is currently 8.12%.
In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares of the company's stock, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.51% of the company's stock.
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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