Comerica Bank lessened its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 11.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,980 shares of the company's stock after selling 2,202 shares during the quarter. Comerica Bank's holdings in Globe Life were worth $1,894,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new position in Globe Life during the fourth quarter worth $28,000. Rakuten Securities Inc. purchased a new stake in shares of Globe Life during the 4th quarter valued at $28,000. Avalon Trust Co purchased a new position in shares of Globe Life in the 4th quarter worth $41,000. EverSource Wealth Advisors LLC boosted its holdings in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Finally, Platinum Investment Management Ltd. purchased a new stake in Globe Life during the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 81.61% of the company's stock.
Globe Life Stock Up 0.8%
Shares of Globe Life stock traded up $0.93 during trading on Thursday, hitting $120.21. 214,823 shares of the stock traded hands, compared to its average volume of 864,427. The stock has a market cap of $9.92 billion, a P/E ratio of 10.08 and a beta of 0.56. The company has a fifty day moving average price of $123.29 and a two-hundred day moving average price of $117.37. 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 twelve month low of $76.55 and a twelve month high of $133.76.
Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.78 earnings per share. Equities research analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.
Globe Life Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio is presently 8.79%.
Analyst Upgrades and Downgrades
GL has been the subject of several recent research reports. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price for the company. Piper Sandler cut their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company cut their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Morgan Stanley reduced their target price on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus target price of $137.00.
View Our Latest Stock Report on GL
About Globe Life
(
Free Report)
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.
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