Globe Life Inc. $GL Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,384 shares of the company’s stock, valued at approximately $3,211,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GL. ProShare Advisors LLC raised its position in shares of Globe Life by 2.6% during the third quarter. ProShare Advisors LLC now owns 18,294 shares of the company’s stock worth $3,030,000 after acquiring an additional 465 shares during the last quarter. Vise Technologies Inc. bought a new position in Globe Life in the third quarter valued at about $1,181,000. Victory Financial Group LLC increased its position in Globe Life by 8.3% in the third quarter. Victory Financial Group LLC now owns 1,402 shares of the company’s stock worth $232,000 after purchasing an additional 107 shares during the period. Asset Management One Co. Ltd. increased its position in Globe Life by 6.0% in the third quarter. Asset Management One Co. Ltd. now owns 3,398 shares of the company’s stock worth $563,000 after purchasing an additional 191 shares during the period. Finally, Apollon Wealth Management LLC increased its position in Globe Life by 9.4% in the third quarter. Apollon Wealth Management LLC now owns 1,849 shares of the company’s stock worth $306,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Robert Hensley sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total value of $1,700,700.00. Following the completion of the sale, the executive vice president owned 12,384 shares in the company, valued at $2,106,146.88. This represents a 44.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Majors sold 14,377 shares of the company’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $154.48, for a total transaction of $2,220,958.96. Following the completion of the sale, the executive vice president owned 39,141 shares of the company’s stock, valued at approximately $6,046,501.68. This represents a 26.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.11% of the company’s stock.

Globe Life Trading Down 1.2%

NYSE:GL traded down $1.94 during mid-day trading on Friday, hitting $157.27. The company had a trading volume of 475,445 shares, compared to its average volume of 619,668. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $191.55. The firm has a market cap of $12.09 billion, a P/E ratio of 10.52 and a beta of 0.47. The business’s fifty day moving average is $166.85 and its two-hundred day moving average is $160.10.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, missing the consensus estimate of $4.90 by ($0.06). Globe Life had a return on equity of 19.95% and a net margin of 18.89%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business earned $4.81 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts expect that Globe Life Inc. will post 15.48 earnings per share for the current year.

Globe Life announced that its Board of Directors has initiated a stock repurchase program on Monday, August 10th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to purchase up to 17.7% of its shares through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 8th will be issued a $0.33 dividend. The ex-dividend date is Friday, January 8th. This represents a $1.32 annualized dividend and a yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is 8.83%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD Cowen cut their target price on shares of Globe Life from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Weiss Ratings raised shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, October 21st. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $193.00 to $195.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Morgan Stanley cut their price objective on shares of Globe Life from $208.00 to $197.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Finally, Jefferies Financial Group raised their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $181.50.

Globe Life Company Profile

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.