Globe Life Inc. (NYSE:GL) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in shares of Globe Life Inc. (NYSE:GL) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,275 shares of the company’s stock after acquiring an additional 757 shares during the quarter. Public Sector Pension Investment Board’s holdings in Globe Life were worth $1,175,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Globe Life by 3.9% during 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Globe Life by 7.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock worth $11,824,000 after buying an additional 7,100 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of Globe Life by 69.2% in the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after buying an additional 15,862 shares during the period. Savant Capital LLC boosted its holdings in Globe Life by 951.5% in the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock valued at $6,189,000 after acquiring an additional 68,061 shares during the last quarter. Finally, Achmea Investment Management B.V. grew its position in Globe Life by 151.4% during the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after acquiring an additional 17,878 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Performance

NYSE:GL opened at $103.71 on Wednesday. The firm has a 50-day moving average of $99.59 and a two-hundred day moving average of $91.37. 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 stock has a market cap of $9.34 billion, a P/E ratio of 9.91 and a beta of 0.81. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the business posted $2.61 earnings per share. Globe Life’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts expect 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. Investors of record on Friday, October 4th will be issued a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.93%. Globe Life’s dividend payout ratio is presently 9.17%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GL. Wells Fargo & Company lifted their price objective on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley boosted their price objective on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 target price (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Piper Sandler lifted their target price on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Evercore ISI raised their price objective on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $108.33.

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 bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.51% of the stock is currently 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.