Globe Life Inc. (NYSE:GL) Shares Acquired by State of Wyoming

State of Wyoming boosted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 692.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,213 shares of the company's stock after acquiring an additional 6,303 shares during the quarter. State of Wyoming's holdings in Globe Life were worth $804,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GL. Royal Bank of Canada lifted its holdings in shares of Globe Life by 11.7% during the fourth quarter. Royal Bank of Canada now owns 153,579 shares of the company's stock worth $17,127,000 after purchasing an additional 16,137 shares during the period. Redwood Investment Management LLC purchased a new position in shares of Globe Life during the 4th quarter valued at about $3,713,000. Polar Capital Holdings Plc lifted its holdings in shares of Globe Life by 30.9% in the 4th quarter. Polar Capital Holdings Plc now owns 148,677 shares of the company's stock valued at $16,580,000 after buying an additional 35,121 shares during the period. ProShare Advisors LLC boosted its stake in shares of Globe Life by 18.2% in the fourth quarter. ProShare Advisors LLC now owns 31,927 shares of the company's stock worth $3,560,000 after buying an additional 4,909 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Globe Life by 99.6% during the fourth quarter. Quantinno Capital Management LP now owns 24,949 shares of the company's stock worth $2,782,000 after acquiring an additional 12,448 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

Shares of Globe Life stock traded down $0.04 during mid-day trading on Tuesday, reaching $122.17. 463,970 shares of the stock traded hands, compared to its average volume of 846,325. The stock has a market capitalization of $10.08 billion, a PE ratio of 10.22 and a beta of 0.56. The business has a 50-day moving average of $123.20 and a 200 day moving average of $117.89. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company posted $2.78 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, 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 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 yield of 0.88%. Globe Life's dividend payout ratio is presently 8.79%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GL shares. BMO Capital Markets assumed coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target for the company. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company dropped their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley lifted their price target on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and an average price target 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.