Swiss National Bank Has $21.43 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Swiss National Bank decreased its position in Globe Life Inc. (NYSE:GL - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,700 shares of the company's stock after selling 13,900 shares during the quarter. Swiss National Bank owned 0.20% of Globe Life worth $21,431,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GL. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Globe Life by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 86,309 shares of the company's stock worth $11,369,000 after purchasing an additional 14,546 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Globe Life by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company's stock worth $102,927,000 after purchasing an additional 3,312 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Globe Life during the first quarter valued at $890,000. Vestcor Inc raised its stake in shares of Globe Life by 9.0% during the first quarter. Vestcor Inc now owns 4,760 shares of the company's stock valued at $627,000 after purchasing an additional 392 shares in the last quarter. Finally, XTX Topco Ltd grew its position in Globe Life by 270.4% in the 1st quarter. XTX Topco Ltd now owns 15,344 shares of the company's stock valued at $2,021,000 after buying an additional 11,202 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the transaction, the executive vice president owned 47,066 shares in the company, valued at $6,467,339.06. The trade was a 17.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the sale, the chief executive officer directly owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,741 shares of company stock worth $12,471,180. 1.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GL has been the subject of several recent analyst reports. BMO Capital Markets reiterated a "market perform" rating and issued a $149.00 price objective (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Piper Sandler cut their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their target price on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $152.00.

Globe Life Price Performance

GL stock traded down $0.48 during midday trading on Thursday, reaching $138.52. 671,035 shares of the company's stock traded hands, compared to its average volume of 810,178. The company has a 50-day simple moving average of $126.70 and a two-hundred day simple moving average of $124.21. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 11.07 and a beta of 0.56. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 1-year low of $95.09 and a 1-year high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. Globe Life's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.97 EPS. On average, analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.63%.

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.