Globe Life Inc. (NYSE:GL) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its position in shares of Globe Life Inc. (NYSE:GL) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,843 shares of the company’s stock after selling 1,608 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Globe Life worth $3,772,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GL. Norges Bank acquired a new stake in shares of Globe Life during the fourth quarter valued at about $123,682,000. Nordea Investment Management AB raised its position in Globe Life by 10,526.9% in 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 during the period. Vanguard Group Inc. raised its position in Globe Life by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after purchasing an additional 425,993 shares during the period. Corient Private Wealth LLC lifted its stake in Globe Life by 1,367.8% during the fourth quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock worth $44,128,000 after purchasing an additional 337,836 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Globe Life by 169.4% during the fourth quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock worth $59,032,000 after buying an additional 304,942 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GL. Morgan Stanley increased their target price on Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price target on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Finally, Truist Financial increased their price objective on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $108.33.

Globe Life Stock Performance

NYSE:GL opened at $98.95 on Friday. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $8.91 billion, a PE ratio of 9.45 and a beta of 0.80. The business’s fifty day moving average price is $87.46 and its 200 day moving average price is $95.69.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.61 earnings per share. On average, sell-side analysts anticipate that Globe Life Inc. will post 11.92 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.97%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insiders Place Their Bets

In other news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the transaction, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Globe Life news, Director Mary E. Thigpen acquired 3,000 shares of the stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Edward Hensley bought 2,500 shares of Globe Life stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Corporate insiders own 1.51% of the company’s stock.

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.