Ethic Inc. Grows Stock Holdings in Globe Life Inc. (NYSE:GL)

Ethic Inc. lifted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 103.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,578 shares of the company's stock after acquiring an additional 10,471 shares during the quarter. Ethic Inc.'s holdings in Globe Life were worth $2,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG raised its position in Globe Life by 62.1% during the fourth quarter. Deutsche Bank AG now owns 420,970 shares of the company's stock valued at $46,947,000 after acquiring an additional 161,302 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Globe Life by 3,494.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 59,806 shares of the company's stock worth $6,670,000 after purchasing an additional 58,142 shares during the period. Concentric Capital Strategies LP purchased a new position in shares of Globe Life during the 4th quarter valued at approximately $1,429,000. Crestline Management LP purchased a new position in shares of Globe Life during the 4th quarter valued at approximately $978,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Globe Life in the 4th quarter valued at $2,643,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Trading Up 0.6%

GL stock opened at $121.97 on Monday. Globe Life Inc. has a 12-month low of $76.55 and a 12-month high of $133.76. The business's 50-day moving average is $123.62 and its 200 day moving average is $117.23. 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 stock has a market cap of $10.15 billion, a price-to-earnings ratio of 10.21 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share 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 firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the business earned $2.78 EPS. The business's revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Stockholders of record on Thursday, July 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is 8.79%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler dropped their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Wells Fargo & Company cut their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.00.

Insider Transactions at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. The trade was a 38.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the firm's 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. The trade was a 36.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.51% of the company's stock.

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.

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