720 Shares in Globe Life Inc. (NYSE:GL) Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division bought a new stake in shares of Globe Life Inc. (NYSE:GL) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 720 shares of the company’s stock, valued at approximately $82,000.

Several other institutional investors have also added to or reduced their stakes in the business. FORA Capital LLC raised its stake in shares of Globe Life by 21.4% in the first quarter. FORA Capital LLC now owns 6,116 shares of the company’s stock worth $712,000 after buying an additional 1,080 shares during the period. Nordea Investment Management AB lifted its holdings in Globe Life by 10,526.9% during the first quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock valued at $116,061,000 after purchasing an additional 989,319 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Globe Life in the first quarter worth approximately $143,000. BNP Paribas purchased a new stake in shares of Globe Life in the first quarter worth $976,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Globe Life by 71.7% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,096 shares of the company’s stock valued at $360,000 after purchasing an additional 1,293 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Globe Life

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the business’s 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 completion of the transaction, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Rodriguez acquired 1,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was bought at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares in the company, valued at $334,186.24. The disclosure for this purchase can be found here. Insiders acquired 6,500 shares of company stock worth $536,860 over the last 90 days. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

Globe Life stock opened at $83.13 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company’s 50-day moving average price is $82.77 and its 200-day moving average price is $102.06. The company has a market cap of $7.49 billion, a PE ratio of 7.94 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 EPS 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 company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the firm posted $2.53 EPS. Globe Life’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Globe Life Inc. will post 11.72 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, July 5th. Globe Life’s payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Morgan Stanley upped their price target on Globe Life from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company reduced their price objective on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Finally, Jefferies Financial Group boosted their price target on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.22.

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.