Ballentine Partners LLC Lowers Stock Holdings in Globe Life Inc. (NYSE:GL)

Ballentine Partners LLC lowered its position in Globe Life Inc. (NYSE:GL) by 90.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,767 shares of the company’s stock after selling 16,831 shares during the period. Ballentine Partners LLC’s holdings in Globe Life were worth $206,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Globe Life by 89.7% in the third quarter. Envestnet Asset Management Inc. now owns 129,446 shares of the company’s stock worth $14,075,000 after buying an additional 61,210 shares in the last quarter. LPL Financial LLC increased its holdings in Globe Life by 566.1% in the 3rd quarter. LPL Financial LLC now owns 99,459 shares of the company’s stock valued at $10,814,000 after acquiring an additional 84,528 shares during the last quarter. Mariner LLC lifted its stake in Globe Life by 3.9% in the 3rd quarter. Mariner LLC now owns 6,509 shares of the company’s stock worth $708,000 after purchasing an additional 245 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Globe Life by 115.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 44,513 shares of the company’s stock worth $4,840,000 after purchasing an additional 23,893 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of Globe Life by 94.9% during the 3rd quarter. Trexquant Investment LP now owns 13,886 shares of the company’s stock valued at $1,510,000 after purchasing an additional 6,762 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

GL has been the subject of a number of research reports. Wells Fargo & Company dropped their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $130.00 to $110.00 in a research note on Wednesday, April 24th. Evercore ISI increased their price objective on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday. Finally, Raymond James restated a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.56.

Globe Life Price Performance

Globe Life stock opened at $83.24 on Thursday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $81.07 and a 200-day moving average price of $104.90. The firm has a market capitalization of $7.68 billion, a PE ratio of 7.95 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the company earned $2.53 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts forecast that Globe Life Inc. will post 11.72 EPS for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s payout ratio is presently 9.17%.

Insider Buying and Selling

In other news, EVP Robert Edward Hensley purchased 2,500 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $82.17 per share, with a total value of $205,425.00. Following the transaction, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Edward Hensley purchased 2,500 shares of Globe Life stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $82.17 per share, with a total value of $205,425.00. Following the completion of the transaction, the executive vice president now owns 7,290 shares in the company, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders have purchased 6,500 shares of company stock valued at $536,860 in the last 90 days. Company insiders own 1.51% of the company’s stock.

Globe Life Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.