JPMorgan Chase & Co. Sells 105,273 Shares of Globe Life Inc. (NYSE:GL)

JPMorgan Chase & Co. lowered its position in Globe Life Inc. (NYSE:GL) by 38.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 170,301 shares of the company’s stock after selling 105,273 shares during the period. JPMorgan Chase & Co. owned 0.20% of Globe Life worth $18,037,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in Globe Life in the third quarter valued at $32,000. True Wealth Design LLC bought a new position in shares of Globe Life in the 3rd quarter worth about $59,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the period. Private Trust Co. NA boosted its position in shares of Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after purchasing an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in Globe Life during the third quarter worth approximately $73,000. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock worth $4,429,779 over the last three months. 1.51% of the stock is currently owned by insiders.

Globe Life Stock Performance

Shares of GL opened at $114.19 on Friday. The firm has a market capitalization of $9.59 billion, a P/E ratio of 9.66 and a beta of 0.80. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a 50 day moving average price of $108.89 and a two-hundred day moving average price of $101.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $2.71 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.84%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio is 8.12%.

Analyst Ratings Changes

Several brokerages have recently commented on GL. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group increased their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $143.00 in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.80.

About Globe Life

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.