Janus Henderson Group PLC Cuts Stake in Globe Life Inc. (NYSE:GL)

Janus Henderson Group PLC lessened its stake in shares of Globe Life Inc. (NYSE:GL) by 13.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 44,071 shares of the company’s stock after selling 6,601 shares during the quarter. Janus Henderson Group PLC’s holdings in Globe Life were worth $4,668,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Centiva Capital LP bought a new stake in shares of Globe Life in the 3rd quarter worth approximately $376,000. Chevy Chase Trust Holdings LLC increased its position in Globe Life by 5.1% in the third quarter. Chevy Chase Trust Holdings LLC now owns 48,161 shares of the company’s stock worth $5,101,000 after buying an additional 2,318 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Globe Life in the third quarter valued at $282,000. True Wealth Design LLC purchased a new position in shares of Globe Life during the 3rd quarter valued at $59,000. Finally, Cobblestone Capital Advisors LLC NY bought a new position in shares of Globe Life during the 3rd quarter worth $212,000. Institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GL. Piper Sandler boosted their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Raymond James upped their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Morgan Stanley lifted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $127.10.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.51% of the stock is owned by company insiders.

Globe Life Price Performance

Shares of NYSE GL opened at $103.60 on Wednesday. The stock’s 50-day simple moving average is $108.09 and its two-hundred day simple moving average is $97.73. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market capitalization of $8.70 billion, a P/E ratio of 8.76 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $2.71 earnings per share. Globe Life’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Globe Life Inc. will post 12.31 EPS 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. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio is currently 8.12%.

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.