Gofen & Glossberg LLC IL Takes Position in Globe Life Inc. (NYSE:GL)

Gofen & Glossberg LLC IL acquired a new stake in shares of Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,391 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GL. Dalton Greiner Hartman Maher & Co. acquired a new position in shares of Globe Life during the third quarter valued at about $9,332,000. State of Alaska Department of Revenue acquired a new position in shares of Globe Life during the third quarter valued at about $6,046,000. Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Globe Life during the third quarter valued at about $5,268,000. M&R Capital Management Inc. acquired a new position in shares of Globe Life during the third quarter valued at about $2,477,000. Finally, Rowland & Co. Investment Counsel ADV acquired a new position in Globe Life in the 3rd quarter worth approximately $1,696,000. Hedge funds and other institutional investors own 75.43% of the company’s stock.

Several equities analysts recently weighed in on GL shares. Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Tuesday, September 3rd. UBS Group cut their price target on shares of Globe Life from $85.00 to $84.00 and set a “sell” rating on the stock in a report on Thursday. Credit Suisse Group started coverage on shares of Globe Life in a report on Friday, September 20th. They issued an “outperform” rating and a $114.00 price target on the stock. Finally, ValuEngine downgraded shares of Globe Life from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

In other news, EVP Vern D. Herbel sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at approximately $4,612,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Larry M. Hutchison sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $92.45, for a total transaction of $2,311,250.00. Following the sale, the chief executive officer now directly owns 610,510 shares in the company, valued at approximately $56,441,649.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,820 shares of company stock worth $9,241,936. 3.64% of the stock is owned by corporate insiders.

Shares of NYSE:GL opened at $94.25 on Friday. Globe Life Inc. has a twelve month low of $69.68 and a twelve month high of $96.92. The stock has a 50 day simple moving average of $92.39. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.20. The firm has a market cap of $10.13 billion, a P/E ratio of 14.37, a PEG ratio of 1.82 and a beta of 0.95.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.02. Globe Life had a net margin of 16.26% and a return on equity of 12.34%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, research analysts anticipate that Globe Life Inc. will post 6.73 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.172 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.69 annualized dividend and a yield of 0.73%. Globe Life’s dividend payout ratio (DPR) is presently 11.26%.

Globe Life Company Profile

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.

Featured Article: What does the Dogs of the Dow mean?

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL).

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

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.