Pzena Investment Management LLC Sells 19,336 Shares of Globe Life Inc. (NYSE:GL)

Pzena Investment Management LLC lowered its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 940,880 shares of the company's stock after selling 19,336 shares during the period. Pzena Investment Management LLC owned 1.13% of Globe Life worth $123,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Globe Life during the 4th quarter worth approximately $45,000. Allworth Financial LP raised its stake in shares of Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after purchasing an additional 103 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after purchasing an additional 342 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Globe Life during the 4th quarter worth approximately $68,000. Institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

Shares of GL stock traded up $1.82 on Thursday, hitting $121.72. 541,823 shares of the company's stock were exchanged, compared to its average volume of 702,244. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a 12 month low of $86.10 and a 12 month high of $133.76. The stock has a market cap of $10.05 billion, a P/E ratio of 9.90 and a beta of 0.56. The company has a 50 day moving average of $120.87 and a 200 day moving average of $121.43.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 21.44% and a net margin of 18.33%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $2.78 earnings per share. Globe Life's quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The firm 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 dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. Globe Life's dividend payout ratio is currently 8.79%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GL. JPMorgan Chase & Co. boosted their target price on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler decreased their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Truist Financial initiated coverage on Globe Life in a report on Tuesday. They issued a "buy" rating and a $150.00 price objective on the stock. 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 raised Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $143.82.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer directly owned 31,298 shares in the company, valued at $3,834,317.98. This represents a 16.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is currently owned by corporate insiders.

Globe Life 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.