Machina Capital S.A.S. acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 3,979 shares of the company's stock, valued at approximately $524,000.
A number of other institutional investors have also added to or reduced their stakes in GL. Norges Bank purchased a new stake in Globe Life during the 4th quarter valued at approximately $112,454,000. GAMMA Investing LLC grew 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 buying an additional 776,895 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in Globe Life during the 4th quarter valued at approximately $52,178,000. Marshall Wace LLP grew its holdings in Globe Life by 1,702.5% during the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after buying an additional 457,802 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Globe Life by 58.6% during the 4th quarter. Ameriprise Financial Inc. now owns 917,994 shares of the company's stock valued at $102,376,000 after buying an additional 339,162 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a report on Monday. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company increased their target price on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler lowered their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $146.00.
Read Our Latest Report on GL
Globe Life Trading Down 0.8%
Shares of NYSE:GL traded down $1.05 on Monday, hitting $134.08. 162,467 shares of the company's stock were exchanged, compared to its average volume of 643,456. Globe Life Inc. has a 12 month low of $86.10 and a 12 month high of $138.41. The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 10.71 and a beta of 0.56. The business's 50 day simple moving average is $121.51 and its two-hundred day simple moving average is $122.15. 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 (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.55% and a net margin of 18.11%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $2.97 earnings per share. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.
Insider Buying and Selling at Globe Life
In other news, CEO Frank M. Svoboda sold 6,019 shares of the firm'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 transaction, the chief executive officer owned 31,298 shares in the company, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.97% of the company's stock.
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.
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