BNP Paribas Financial Markets Invests $20.51 Million in Globe Life Inc. (NYSE:GL)

BNP Paribas Financial Markets acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 183,866 shares of the company's stock, valued at approximately $20,505,000. BNP Paribas Financial Markets owned 0.22% of Globe Life as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in GL. Norges Bank purchased a new position in Globe Life during the fourth quarter worth about $112,454,000. Raymond James Financial Inc. bought a new stake in shares of Globe Life during the 4th quarter valued at about $61,238,000. Swedbank AB purchased a new stake in Globe Life in the fourth quarter valued at approximately $52,414,000. Freestone Grove Partners LP purchased a new stake in Globe Life in the fourth quarter valued at approximately $52,178,000. Finally, Marshall Wace LLP raised its stake in Globe Life by 1,702.5% in the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after purchasing an additional 457,802 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Trading Up 0.8%

Shares of NYSE:GL traded up $0.99 during trading on Thursday, reaching $120.27. 247,011 shares of the company traded hands, compared to its average volume of 864,492. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 10.06 and a beta of 0.56. Globe Life Inc. has a 52-week low of $76.55 and a 52-week high of $133.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The business's fifty day moving average is $123.29 and its 200-day moving average is $117.37.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $2.78 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Morgan Stanley dropped their price target on Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target for the company. Piper Sandler decreased their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.00.

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.