New York State Common Retirement Fund cut its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 154,320 shares of the company's stock after selling 2,188 shares during the period. New York State Common Retirement Fund owned approximately 0.19% of Globe Life worth $20,327,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of Globe Life by 1.9% during the 4th quarter. HighTower Advisors LLC now owns 22,009 shares of the company's stock worth $2,454,000 after buying an additional 406 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Globe Life by 17.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,048 shares of the company's stock worth $340,000 after buying an additional 446 shares in the last quarter. 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 buying an additional 90 shares in the last quarter. Platinum Investment Management Ltd. purchased a new position in shares of Globe Life during the 4th quarter worth approximately $45,000. Finally, First National Bank of Hutchinson raised its stake in shares of Globe Life by 3.7% during the 4th quarter. First National Bank of Hutchinson now owns 14,909 shares of the company's stock worth $1,663,000 after buying an additional 538 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.
Globe Life Price Performance
NYSE:GL traded down $0.29 during trading hours on Friday, reaching $121.32. 73,624 shares of the company traded hands, compared to its average volume of 699,789. The firm's 50-day moving average is $120.87 and its 200-day moving average is $121.43. The stock has a market cap of $10.01 billion, a P/E ratio of 9.87 and a beta of 0.56. 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 1-year low of $86.10 and a 1-year high of $133.76.
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 analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.33% and a return on equity of 21.44%. 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 company posted $2.78 EPS. Globe Life's quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.
Globe Life Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend 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 presently 8.79%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their target price on Globe Life from $139.00 to $144.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Truist Financial started coverage on Globe Life in a research note on Tuesday. They set a "buy" rating and a $150.00 target price for the company. Piper Sandler lowered their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.82.
View Our Latest Analysis on Globe Life
Insider Buying and Selling at Globe Life
In related news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.51% of the stock is owned by corporate insiders.
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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