Janus Henderson Group PLC Sells 6,601 Shares of Globe Life Inc. (NYSE:GL)

Janus Henderson Group PLC cut its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,071 shares of the company's stock after selling 6,601 shares during the quarter. Janus Henderson Group PLC owned about 0.05% of Globe Life worth $4,668,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its stake in Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock worth $88,420,000 after acquiring an additional 859,146 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock valued at $132,577,000 after buying an additional 822,638 shares during the period. Millennium Management LLC increased its position in shares of Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock valued at $105,303,000 after buying an additional 817,760 shares in the last quarter. Nuance Investments LLC raised its stake in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock worth $120,629,000 after buying an additional 693,346 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Globe Life by 146.3% during the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company's stock worth $76,552,000 after acquiring an additional 552,634 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Activity

In other Globe Life 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 transaction of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares of the company's stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on GL. Raymond James increased their price target on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. Wells Fargo & Company raised their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday, October 25th. TD Cowen initiated coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.10.

Globe Life Stock Up 1.4 %

GL traded up $1.44 during trading hours on Wednesday, hitting $105.09. 716,965 shares of the company's stock were exchanged, compared to its average volume of 1,467,769. 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 Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The stock's 50-day moving average is $108.09 and its two-hundred day moving average is $97.79. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 8.89 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 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 company 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 business posted $2.71 EPS. The company's quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict 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. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend 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.