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Aurora Investment Counsel Takes $2 Million Position in Globe Life Inc. (NYSE:GL)

Globe Life logo with Finance background

Aurora Investment Counsel purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,210 shares of the company's stock, valued at approximately $2,003,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Globe Life in the fourth quarter valued at approximately $112,454,000. GAMMA Investing LLC increased its holdings in Globe Life by 15,553.5% during the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after purchasing an additional 776,895 shares in the last quarter. Freestone Grove Partners LP bought a new position in Globe Life in the 4th quarter valued at $52,178,000. Marshall Wace LLP boosted its stake in Globe Life by 1,702.5% in the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock worth $54,053,000 after purchasing an additional 457,802 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Globe Life by 58.6% during the fourth quarter. Ameriprise Financial Inc. now owns 917,994 shares of the company's stock worth $102,376,000 after purchasing an additional 339,162 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Piper Sandler reduced their target price 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. Wells Fargo & Company increased their price target on Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley set a $127.00 price objective on Globe Life and gave the company an "equal weight" rating in a report on Monday. Finally, Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $139.73.

View Our Latest Stock Analysis on GL

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the sale, the chief executive officer directly owned 31,298 shares in the company, valued at $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.97% of the company's stock.

Globe Life Stock Up 2.2%

Shares of NYSE GL traded up $2.62 during mid-day trading on Monday, reaching $120.75. 457,218 shares of the company's stock were exchanged, compared to its average volume of 641,182. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $120.95 and a 200 day simple moving average of $121.31. Globe Life Inc. has a twelve month low of $85.86 and a twelve month high of $133.76. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 9.82 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business posted $2.78 earnings per share. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.89%. Globe Life's dividend payout ratio is currently 8.79%.

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.

Further Reading

Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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