Pensionfund Sabic Increases Position in Globe Life Inc. (NYSE:GL)

Pensionfund Sabic increased its stake in shares of Globe Life Inc. (NYSE:GLFree Report) by 20.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,800 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Pensionfund Sabic’s holdings in Globe Life were worth $1,316,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. raised its position in Globe Life by 151.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock worth $2,443,000 after buying an additional 17,878 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Globe Life during the second quarter worth about $15,483,000. State Street Corp lifted its position in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares during the period. Principal Financial Group Inc. boosted its holdings in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after purchasing an additional 8,663 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Globe Life by 85.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,141 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley raised their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Truist Financial boosted their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group increased their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Raymond James raised their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler upped their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.10.

Get Our Latest Stock Analysis on GL

Globe Life Trading Down 0.5 %

Shares of GL opened at $111.00 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 9.39 and a beta of 0.80. The firm has a 50 day simple moving average of $108.48 and a 200-day simple moving average of $101.39.

Globe Life (NYSE:GLGet Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $2.71 earnings per share. Globe Life’s revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is 8.12%.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.51% of the stock is owned by corporate insiders.

Globe Life Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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