Deerfield Management Company L.P. Series C Buys 1,707 Shares of Globe Life Inc. (NYSE:GL)

Deerfield Management Company L.P. Series C raised its stake in shares of Globe Life Inc. (NYSE:GL) by 50.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,070 shares of the company’s stock after purchasing an additional 1,707 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Globe Life were worth $417,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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 worth $1,309,755,000 after purchasing an additional 425,993 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Globe Life by 7.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock worth $11,824,000 after purchasing an additional 7,100 shares in the last quarter. Quadrature Capital Ltd raised its position in Globe Life by 69.2% in the fourth 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 in the last quarter. Savant Capital LLC raised its position in Globe Life by 951.5% in the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after purchasing an additional 68,061 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its position in Globe Life by 151.4% in the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock worth $2,443,000 after purchasing an additional 17,878 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In other Globe Life news, Director Mary E. Thigpen acquired 3,000 shares of Globe Life stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares in the company, valued at $1,407,571. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Evercore ISI raised their price objective on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Piper Sandler raised their price objective on shares of Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley raised their price objective on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group raised their price objective on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. 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 company’s stock. Based on data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average target price of $108.33.

Globe Life Price Performance

GL opened at $104.41 on Friday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The company’s 50 day simple moving average is $98.97 and its 200-day simple moving average is $91.95. The stock has a market capitalization of $9.38 billion, a P/E ratio of 9.97 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 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.45 billion. During the same period in the prior year, the firm earned $2.61 earnings per share. Globe Life’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Globe Life Inc. will post 11.93 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. Stockholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

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.