Korea Investment CORP Sells 1,100 Shares of Globe Life Inc. (NYSE:GL)

Korea Investment CORP lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 4.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,100 shares of the company’s stock after selling 1,100 shares during the quarter. Korea Investment CORP’s holdings in Globe Life were worth $2,329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GL. Mercer Global Advisors Inc. ADV grew its stake in Globe Life by 34.7% during the first quarter. Mercer Global Advisors Inc. ADV now owns 19,916 shares of the company’s stock valued at $1,924,000 after acquiring an additional 5,134 shares in the last quarter. Pensionfund DSM Netherlands lifted its position in Globe Life by 30.2% in the 1st quarter. Pensionfund DSM Netherlands now owns 30,200 shares of the company’s stock worth $2,918,000 after buying an additional 7,000 shares during the last quarter. Geode Capital Management LLC grew its position in Globe Life by 2.9% during the first quarter. Geode Capital Management LLC now owns 1,720,905 shares of the company’s stock valued at $165,873,000 after acquiring an additional 48,826 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Globe Life during the first quarter worth approximately $1,367,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Globe Life in the 1st quarter worth approximately $2,388,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Shares of Globe Life stock opened at $96.30 on Friday. The firm’s fifty day moving average is $103.45. Globe Life Inc. has a 12-month low of $69.47 and a 12-month high of $108.22. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.21. The stock has a market cap of $9.92 billion, a P/E ratio of 13.74 and a beta of 1.14.

Globe Life (NYSE:GL) last posted its earnings results on Tuesday, April 20th. The company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.12). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Globe Life had a return on equity of 8.69% and a net margin of 15.29%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $1.73 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Monday, July 5th will be paid a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, July 1st.

In other news, CEO Larry M. Hutchison sold 13,000 shares of the firm’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $107.30, for a total value of $1,394,900.00. Following the transaction, the chief executive officer now directly owns 728,112 shares in the company, valued at approximately $78,126,417.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles E. Adair sold 5,000 shares of Globe Life stock in a transaction on Monday, May 10th. The stock was sold at an average price of $106.93, for a total value of $534,650.00. Following the completion of the sale, the director now directly owns 12,699 shares of the company’s stock, valued at approximately $1,357,904.07. The disclosure for this sale can be found here. Insiders have sold 205,000 shares of company stock valued at $21,506,740 over the last quarter. Company insiders own 4.30% of the company’s stock.

A number of equities analysts recently commented on GL shares. Zacks Investment Research cut shares of Globe Life from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on Globe Life from $99.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Morgan Stanley raised their price target on Globe Life from $100.00 to $105.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 19th. Finally, Credit Suisse Group lifted their price target on Globe Life from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, June 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.80.

Globe Life 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.

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

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