Bridgeway Capital Management LLC Invests $2.64 Million in Globe Life Inc. (NYSE:GL)

Bridgeway Capital Management LLC purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 23,700 shares of the company's stock, valued at approximately $2,643,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Systems of Alabama lifted its holdings in shares of Globe Life by 6.4% in the third quarter. Retirement Systems of Alabama now owns 19,702 shares of the company's stock valued at $2,087,000 after purchasing an additional 1,179 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after acquiring an additional 8,663 shares during the last quarter. Diversified Trust Co purchased a new position in Globe Life during the 4th quarter worth $356,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Globe Life by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company's stock worth $2,110,000 after acquiring an additional 144 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Globe Life in the 4th quarter worth about $244,000. Institutional investors own 81.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GL shares. Wells Fargo & Company reduced their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Piper Sandler decreased their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Keefe, Bruyette & Woods increased their price target on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Morgan Stanley lowered their target price on 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. Finally, BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price on the stock. Four equities research 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 company. Based on data from MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus target price of $137.00.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 11,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. The trade was a 36.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.51% of the stock is owned by corporate insiders.

Globe Life Stock Performance

GL traded down $0.50 during trading hours on Wednesday, hitting $119.59. The stock had a trading volume of 484,974 shares, compared to its average volume of 869,669. The company's fifty day simple moving average is $123.41 and its 200 day simple moving average is $117.35. Globe Life Inc. has a 1 year low of $76.55 and a 1 year high of $133.76. The stock has a market cap of $9.96 billion, a PE ratio of 10.01 and a beta of 0.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly 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 net margin of 18.53% and a return on equity of 22.32%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm earned $2.78 EPS. The business's revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

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

Globe Life Company 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.