Aigen Investment Management LP Acquires 9,521 Shares of Globe Life Inc. (NYSE:GL)

Key Points

• Aigen Investment Management LP increased its stake in Globe Life Inc. by 161.2%, acquiring an additional 9,521 shares, bringing its total holdings to 15,427 shares worth approximately $2.03 million.
• The company recently reported earnings of $3.27 EPS, surpassing estimates, with a revenue of $1.48 billion, which was slightly below projections.
• A quarterly dividend of $0.27 has been announced, with an ex-dividend date of October 3rd, resulting in an annualized yield of 0.8%.

Aigen Investment Management LP boosted its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 161.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,427 shares of the company's stock after purchasing an additional 9,521 shares during the period. Aigen Investment Management LP's holdings in Globe Life were worth $2,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Allworth Financial LP raised its stake in shares of Globe Life by 22.0% in the first quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after acquiring an additional 103 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Globe Life by 140.2% in the first quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after acquiring an additional 342 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Globe Life in the fourth quarter valued at approximately $68,000. Blue Trust Inc. raised its stake in shares of Globe Life by 42.4% in the first quarter. Blue Trust Inc. now owns 772 shares of the company's stock valued at $102,000 after acquiring an additional 230 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Globe Life by 56.7% in the first quarter. Cullen Frost Bankers Inc. now owns 970 shares of the company's stock valued at $128,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

Shares of GL stock opened at $140.64 on Friday. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 11.24 and a beta of 0.56. Globe Life Inc. has a 12-month low of $91.16 and a 12-month high of $144.00. The firm has a fifty day moving average of $125.28 and a 200-day moving average of $123.71. The company has a quick ratio of 0.07, a current ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.25 by $0.02. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.97 EPS. On average, equities research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's payout ratio is currently 8.63%.

Insider Activity at Globe Life

In related news, CEO James Matthew Darden sold 33,270 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the sale, the chief executive officer directly owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the sale, the executive vice president directly owned 47,066 shares in the company, valued at $6,467,339.06. This trade represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,741 shares of company stock valued at $12,471,180. 1.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GL. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Truist Financial assumed coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price for the company. Finally, Morgan Stanley raised shares of Globe Life from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $135.00 to $166.00 in a report on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $152.00.

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.

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