NBC Securities Inc. Boosts Holdings in Globe Life Inc. (NYSE:GL)

NBC Securities Inc. increased its holdings in Globe Life Inc. (NYSE:GL) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,803 shares of the company’s stock after buying an additional 153 shares during the quarter. NBC Securities Inc.’s holdings in Globe Life were worth $675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after buying an additional 181,824 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after buying an additional 168,127 shares during the last quarter. Cooke & Bieler LP boosted its holdings in shares of Globe Life by 2.0% in the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock worth $286,996,000 after buying an additional 45,227 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Globe Life by 3.7% in the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after buying an additional 67,753 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Globe Life by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock worth $146,109,000 after buying an additional 29,560 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 0.6 %

Globe Life stock opened at $80.40 on Thursday. The stock has a market cap of $7.42 billion, a P/E ratio of 7.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The firm’s 50 day moving average price is $78.98 and its 200-day moving average price is $106.48.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm posted $2.53 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts predict that Globe Life Inc. will post 11.72 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, July 5th. Globe Life’s dividend payout ratio is presently 9.17%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GL. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Piper Sandler decreased their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Wells Fargo & Company decreased their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Truist Financial decreased their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average price target of $114.33.

Insider Buying and Selling

In other Globe Life news, Director David A. Rodriguez purchased 1,500 shares of Globe Life stock in a transaction that occurred on Wednesday, April 24th. The shares were bought at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James Matthew Darden acquired 2,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was bought at an average cost of $84.82 per share, with a total value of $169,640.00. Following the completion of the purchase, the chief executive officer now directly owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Rodriguez acquired 1,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the purchase, the director now directly owns 4,192 shares of the company’s stock, valued at $334,186.24. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 6,500 shares of company stock worth $536,860. Insiders own 1.51% of the company’s stock.

Globe Life Company 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.