Federated Hermes Inc. Buys 1,881 Shares of Globe Life Inc. (NYSE:GL)

Federated Hermes Inc. grew its stake in Globe Life Inc. (NYSE:GL - Free Report) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,888 shares of the company's stock after purchasing an additional 1,881 shares during the quarter. Federated Hermes Inc.'s holdings in Globe Life were worth $4,464,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GL. GAMMA Investing LLC increased its position in Globe Life by 15,553.5% during the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock worth $102,991,000 after acquiring an additional 776,895 shares during the period. Freestone Grove Partners LP bought a new position in Globe Life during the fourth quarter worth about $52,178,000. Marshall Wace LLP increased its position in Globe Life by 1,702.5% during the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock worth $54,053,000 after acquiring an additional 457,802 shares during the period. Ameriprise Financial Inc. increased its position in 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 acquiring an additional 339,162 shares during the period. Finally, Invesco Ltd. increased its position in Globe Life by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company's stock worth $438,568,000 after acquiring an additional 223,282 shares during the period. 81.61% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the completion of the sale, the chief executive officer owned 32,747 shares in the company, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,741 shares of company stock worth $11,097,080. Corporate insiders own 1.97% of the company's stock.

Globe Life Trading Down 2.3%

Shares of Globe Life stock opened at $137.18 on Monday. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 10.97 and a beta of 0.56. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 12-month low of $86.10 and a 12-month high of $144.00. The firm's 50-day moving average price is $123.36 and its two-hundred day moving average price is $123.01.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. Globe Life had a net margin of 18.11% and a return on equity of 21.55%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company posted $2.97 EPS. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GL has been the topic of a number of recent research reports. Truist Financial initiated coverage on shares of Globe Life in a research report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler lowered 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. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average price target of $149.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.