AQR Capital Management LLC Lowers Stock Holdings in Globe Life Inc. (NYSE:GL)

AQR Capital Management LLC decreased its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 14.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 548,369 shares of the company's stock after selling 90,320 shares during the quarter. AQR Capital Management LLC owned 0.65% of Globe Life worth $60,820,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its stake in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Globe Life during the fourth quarter worth about $28,000. Albion Financial Group UT acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $28,000. Avalon Trust Co bought a new stake in shares of Globe Life during the 4th quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC increased its position in Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Insiders Place Their Bets

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares of the company's stock, valued at $4,735,998.96. This represents a 38.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GL shares. Morgan Stanley decreased their target price on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Piper Sandler lowered their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective for the company. Finally, Wells Fargo & Company cut their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.00.

Globe Life Stock Up 1.5 %

Shares of Globe Life stock traded up $1.83 during trading hours on Wednesday, reaching $122.17. The company's stock had a trading volume of 145,123 shares, compared to its average volume of 907,864. The company has a market capitalization of $10.17 billion, a P/E ratio of 10.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a one year low of $76.55 and a one year high of $133.76. The stock's fifty day simple moving average is $123.93 and its two-hundred day simple moving average is $116.95.

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

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.88%. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

About Globe Life

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.