AE Wealth Management LLC Sells 75,670 Shares of Globe Life Inc. (NYSE:GL)

AE Wealth Management LLC reduced its stake in Globe Life Inc. (NYSE:GL) by 96.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,695 shares of the company’s stock after selling 75,670 shares during the quarter. AE Wealth Management LLC’s holdings in Globe Life were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after buying an additional 425,993 shares during the last quarter. Boston Partners lifted its holdings in Globe Life by 6.4% during the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock worth $243,200,000 after acquiring an additional 125,457 shares during the period. Bank of New York Mellon Corp boosted its position in Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after purchasing an additional 822,638 shares during the last quarter. Equity Investment Corp grew its stake in Globe Life by 21.9% in the 2nd quarter. Equity Investment Corp now owns 1,036,389 shares of the company’s stock valued at $85,274,000 after purchasing an additional 185,859 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Globe Life by 10,526.9% during the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock valued at $116,061,000 after purchasing an additional 989,319 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target 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. Truist Financial raised their price target on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Piper Sandler upped their price objective on Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their target price on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group upped their price target on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $108.33.

Globe Life Trading Down 4.7 %

NYSE:GL opened at $104.40 on Friday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The stock’s fifty day moving average price is $98.97 and its two-hundred day moving average price is $91.72. 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 has a market cap of $9.38 billion, a P/E ratio of 9.97 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. 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. As a group, analysts expect that Globe Life Inc. will post 11.93 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. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Insider Activity at Globe Life

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

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.