Oppenheimer & Co. Inc. Takes Position in Globe Life Inc. (NYSE:GL)

Oppenheimer & Co. Inc. acquired a new position in Globe Life Inc. (NYSE:GL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,409 shares of the company's stock, valued at approximately $2,161,000.

Several other institutional investors have also bought and sold shares of GL. Wellington Management Group LLP boosted its position in shares of Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after purchasing an additional 326,307 shares in the last quarter. Invesco Ltd. boosted its holdings 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 buying an additional 223,282 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Globe Life by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company's stock worth $177,615,000 after buying an additional 118,054 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Globe Life by 2.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company's stock worth $143,228,000 after buying an additional 36,051 shares during the last quarter. Finally, Nuance Investments LLC increased its holdings in shares of Globe Life by 8.3% in the fourth quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock valued at $137,623,000 after buying an additional 95,091 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Up 0.4%

Shares of NYSE:GL traded up $0.54 during midday trading on Monday, hitting $124.43. 505,173 shares of the stock were exchanged, compared to its average volume of 712,464. The company has a market capitalization of $10.27 billion, a PE ratio of 10.12 and a beta of 0.56. Globe Life Inc. has a 52-week low of $80.36 and a 52-week high of $133.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The business's fifty day simple moving average is $121.28 and its two-hundred day simple moving average is $120.54.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results 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). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.78 earnings per share. As a group, research analysts predict 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. Shareholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

Analyst Ratings Changes

Several research firms have recently weighed in on GL. Wells Fargo & Company reduced their price objective on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Piper Sandler decreased 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. JPMorgan Chase & Co. boosted their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Morgan Stanley raised their target price on shares of Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.73.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction on Tuesday, May 20th. The shares were 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 $3,834,317.98. This represents a 16.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.97% of the stock is owned by corporate insiders.

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.