Globe Life Inc. (NYSE:GL) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in Globe Life Inc. (NYSE:GL) by 107.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 31,612 shares of the company’s stock after acquiring an additional 16,338 shares during the quarter. Federated Hermes Inc.’s holdings in Globe Life were worth $2,601,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GL. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 425,993 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Globe Life by 7.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after purchasing an additional 7,100 shares in the last quarter. Quadrature Capital Ltd boosted its stake in Globe Life by 69.2% during the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after purchasing an additional 15,862 shares during the last quarter. Savant Capital LLC grew its holdings in shares of Globe Life by 951.5% during the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after buying an additional 68,061 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its position in shares of Globe Life by 151.4% in the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after buying an additional 17,878 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity at Globe Life

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

Globe Life Stock Up 0.6 %

Shares of GL opened at $107.25 on Friday. The company’s 50-day moving average price is $96.17 and its 200 day moving average price is $92.62. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The firm has a market cap of $9.66 billion, a P/E ratio of 10.24 and a beta of 0.81.

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

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Globe Life’s payout ratio is presently 9.17%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company upped 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. Truist Financial increased their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Piper Sandler raised their target price on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Morgan Stanley boosted their price target on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.33.

About Globe Life

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.