Nomura Holdings Inc. Acquires Shares of 5,007 Globe Life Inc. (NYSE:GL)

Nomura Holdings Inc. acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,007 shares of the company's stock, valued at approximately $558,000.

A number of other institutional investors have also modified their holdings of GL. Raymond James Financial Inc. acquired a new stake in shares of Globe Life during the 4th quarter valued at about $61,238,000. Lighthouse Investment Partners LLC grew its position in shares of Globe Life by 914.9% during the 4th quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock valued at $14,304,000 after acquiring an additional 115,628 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Globe Life during the 4th quarter valued at about $487,000. Prudential Financial Inc. grew its position in shares of Globe Life by 50.0% during the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock valued at $9,069,000 after acquiring an additional 27,590 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Globe Life by 61.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock valued at $2,751,000 after acquiring an additional 9,395 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

Shares of GL opened at $122.17 on Wednesday. Globe Life Inc. has a 1-year low of $76.55 and a 1-year high of $133.76. The stock has a market cap of $10.08 billion, a PE ratio of 10.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a fifty day moving average price of $123.20 and a 200 day moving average price of $117.89.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the firm earned $2.78 earnings per share. Globe Life's revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current 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 issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.88%. Globe Life's payout ratio is 8.79%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GL shares. Piper Sandler dropped their target price on 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 dropped their target price on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. StockNews.com raised shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, BMO Capital Markets started coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective for the company. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life currently has an average rating of "Moderate Buy" and a consensus target price of $137.73.

Globe Life Company 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.

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