Louisiana State Employees Retirement System Sells 200 Shares of Globe Life Inc. (NYSE:GL)

Louisiana State Employees Retirement System decreased its stake in Globe Life Inc. (NYSE:GL) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,800 shares of the company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Globe Life were worth $395,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GL. Private Wealth Management Group LLC acquired a new stake in shares of Globe Life during the fourth quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after acquiring an additional 177 shares during the last quarter. Keener Financial Planning LLC acquired a new stake in Globe Life during the 1st quarter valued at $49,000. Principal Securities Inc. bought a new position in Globe Life in the 4th quarter valued at $52,000. Finally, Blue Trust Inc. boosted its stake in Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after purchasing an additional 554 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Stock Performance

Shares of Globe Life stock opened at $105.05 on Friday. The firm has a fifty day moving average of $90.53 and a two-hundred day moving average of $94.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 10.03 and a beta of 0.80. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company posted $2.61 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Globe Life Inc. will post 11.92 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Buying and Selling at Globe Life

In other news, Director Mary E. Thigpen purchased 3,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GL shares. Jefferies Financial Group raised their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Raymond James reissued a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Evercore ISI raised their price target on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Finally, Piper Sandler upped their price objective on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $108.33.

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.