Daiwa Securities Group Inc. Has $3.97 Million Stake in Globe Life Inc. (NYSE:GL)

Daiwa Securities Group Inc. raised its holdings in Globe Life Inc. (NYSE:GL) by 42.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,247 shares of the company’s stock after buying an additional 14,268 shares during the period. Daiwa Securities Group Inc.’s holdings in Globe Life were worth $3,970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GL. Private Wealth Management Group LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $27,000. Keener Financial Planning LLC bought a new stake in Globe Life during the first quarter worth $49,000. LRI Investments LLC lifted its stake in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after acquiring an additional 557 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Globe Life in the 4th quarter valued at about $52,000. Finally, Family Firm Inc. acquired a new position in shares of Globe Life during the 2nd quarter worth about $54,000. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Up 1.0 %

GL stock opened at $102.32 on Friday. The company has a market cap of $9.21 billion, a PE ratio of 9.77 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The business has a 50-day simple moving average of $94.26 and a 200 day simple moving average of $93.46.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.61 EPS. Sell-side analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.94%. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity at Globe Life

In related news, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.51% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GL has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI raised their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Truist Financial upped their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Jefferies Financial Group upped their price target on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Finally, Raymond James restated a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Five 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $108.33.

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.