Truist Financial Corp boosted its holdings in Globe Life Inc. (NYSE:GL) by 20.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 61,037 shares of the company’s stock after buying an additional 10,443 shares during the period. Truist Financial Corp’s holdings in Globe Life were worth $5,795,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of GL. Perigon Wealth Management LLC bought a new position in Globe Life in the 4th quarter valued at approximately $29,000. Inspire Advisors LLC bought a new position in Globe Life in the 4th quarter valued at approximately $44,000. Neo Ivy Capital Management bought a new position in Globe Life in the 3rd quarter valued at approximately $54,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Globe Life in the 4th quarter valued at approximately $78,000. Finally, Vantage Consulting Group Inc bought a new position in Globe Life in the 4th quarter valued at approximately $80,000. Institutional investors and hedge funds own 72.47% of the company’s stock.
In related news, EVP Robert Brian Mitchell sold 3,000 shares of Globe Life stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $100.45, for a total value of $301,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Kendall Carlson sold 18,000 shares of Globe Life stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $100.10, for a total transaction of $1,801,800.00. Following the completion of the sale, the insider now directly owns 3,000 shares of the company’s stock, valued at approximately $300,300. The disclosure for this sale can be found here. Insiders sold a total of 120,150 shares of company stock valued at $11,921,669 in the last quarter. 3.78% of the stock is currently owned by company insiders.
Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, February 1st. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.02. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. Globe Life had a net margin of 15.38% and a return on equity of 10.28%. Globe Life’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Monday, April 5th will be paid a $0.1975 dividend. The ex-dividend date is Thursday, April 1st. This represents a $0.79 annualized dividend and a dividend yield of 0.80%. This is a positive change from Globe Life’s previous quarterly dividend of $0.19.
GL has been the subject of a number of research reports. Piper Sandler raised their price objective on shares of Globe Life from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $99.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Morgan Stanley raised their price target on shares of Globe Life from $95.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Globe Life has a consensus rating of “Hold” and a consensus price target of $97.50.
Globe Life Profile
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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