Financial Management Professionals Inc. Makes New $3.53 Million Investment in Globe Life Inc. (NYSE:GL)

Financial Management Professionals Inc. bought a new position in shares of Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,880 shares of the company’s stock, valued at approximately $3,532,000. Globe Life accounts for 1.3% of Financial Management Professionals Inc.’s holdings, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Orrstown Financial Services Inc. acquired a new stake in shares of Globe Life in the third quarter valued at approximately $56,000. CX Institutional acquired a new stake in shares of Globe Life in the third quarter valued at approximately $161,000. Gofen & Glossberg LLC IL acquired a new stake in shares of Globe Life in the third quarter valued at approximately $229,000. Welch & Forbes LLC acquired a new stake in shares of Globe Life in the third quarter valued at approximately $290,000. Finally, Legacy Private Trust Co. acquired a new stake in shares of Globe Life in the third quarter valued at approximately $317,000. Institutional investors own 75.43% of the company’s stock.

Several analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of Globe Life in a research report on Friday, September 20th. They issued an “outperform” rating and a $114.00 price target on the stock. Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, September 3rd. UBS Group lowered their price target on shares of Globe Life from $85.00 to $84.00 and set a “sell” rating on the stock in a research report on Thursday. Finally, ValuEngine lowered shares of Globe Life from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.

In related news, EVP Vern D. Herbel sold 50,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the completion of the sale, the executive vice president now directly owns 50,000 shares of the company’s stock, valued at approximately $4,612,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David L. Boren sold 10,900 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $87.02, for a total transaction of $948,518.00. Following the sale, the director now directly owns 203 shares of the company’s stock, valued at $17,665.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,820 shares of company stock valued at $9,241,936. Company insiders own 3.64% of the company’s stock.

NYSE:GL traded up $1.04 during trading hours on Friday, reaching $94.25. 386,267 shares of the company were exchanged, compared to its average volume of 412,620. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.20. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95. Globe Life Inc. has a 52-week low of $69.68 and a 52-week high of $96.92. The company’s 50 day moving average is $92.34.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.02. Globe Life had a net margin of 16.26% and a return on equity of 12.34%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, analysts forecast that Globe Life Inc. will post 6.73 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.172 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Thursday, October 3rd. Globe Life’s dividend payout ratio is presently 11.26%.

Globe Life Company Profile

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

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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