Cibc World Markets Corp Sells 49,793 Shares of Globe Life Inc. (NYSE:GL)

Cibc World Markets Corp reduced its position in Globe Life Inc. (NYSE:GLGet Rating) by 55.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 39,390 shares of the company’s stock after selling 49,793 shares during the quarter. Cibc World Markets Corp’s holdings in Globe Life were worth $3,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley raised its holdings in Globe Life by 6.2% during the second quarter. Morgan Stanley now owns 298,656 shares of the company’s stock worth $28,447,000 after buying an additional 17,374 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Globe Life by 9.5% during the third quarter. Principal Financial Group Inc. now owns 127,017 shares of the company’s stock worth $11,308,000 after acquiring an additional 10,968 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Globe Life by 0.8% during the third quarter. Alliancebernstein L.P. now owns 184,848 shares of the company’s stock worth $16,457,000 after acquiring an additional 1,482 shares in the last quarter. Creative Planning raised its holdings in shares of Globe Life by 19.7% in the 3rd quarter. Creative Planning now owns 3,621 shares of the company’s stock worth $322,000 after acquiring an additional 595 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Globe Life by 62.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,103 shares of the company’s stock valued at $365,000 after acquiring an additional 1,581 shares in the last quarter. 75.72% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:GL opened at $93.56 on Friday. Globe Life Inc. has a 1 year low of $85.25 and a 1 year high of $108.61. The company has a market capitalization of $9.23 billion, a PE ratio of 13.07 and a beta of 0.96. The business has a fifty day moving average price of $100.08 and a two-hundred day moving average price of $98.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GLGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.02). The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. Globe Life had a net margin of 14.18% and a return on equity of 8.75%. Globe Life’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Tuesday, July 5th will be paid a dividend of $0.2075 per share. The ex-dividend date of this dividend is Friday, July 1st. This represents a $0.83 annualized dividend and a dividend yield of 0.89%. Globe Life’s payout ratio is currently 11.59%.

In related news, Director Charles E. Adair sold 3,000 shares of Globe Life stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $101.60, for a total value of $304,800.00. Following the completion of the transaction, the director now directly owns 7,699 shares in the company, valued at approximately $782,218.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven John Dichiaro sold 1,000 shares of the stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $100.05, for a total value of $100,050.00. Following the sale, the insider now owns 9,372 shares in the company, valued at approximately $937,668.60. The disclosure for this sale can be found here. Insiders sold a total of 52,382 shares of company stock worth $5,423,592 in the last ninety days. 4.62% of the stock is currently owned by insiders.

GL has been the subject of several analyst reports. Morgan Stanley increased their price objective on Globe Life from $105.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 22nd. Jefferies Financial Group started coverage on Globe Life in a research report on Tuesday, January 25th. They issued a “hold” rating and a $106.00 price target for the company. Zacks Investment Research upgraded shares of Globe Life from a “sell” rating to a “hold” rating in a research note on Monday, February 7th. Finally, StockNews.com started coverage on shares of Globe Life in a report on Thursday, March 31st. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $108.33.

About Globe Life (Get Rating)

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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