Two Sigma Advisers LP lifted its stake in Globe Life Inc. (NYSE:GL - Free Report) by 69.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 393,800 shares of the company's stock after buying an additional 161,700 shares during the period. Two Sigma Advisers LP owned approximately 0.47% of Globe Life worth $43,917,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of GL. Norges Bank purchased a new position in shares of Globe Life in the fourth quarter worth about $112,454,000. Raymond James Financial Inc. purchased a new position in shares of Globe Life in the fourth quarter worth about $61,238,000. Swedbank AB purchased a new position in shares of Globe Life in the fourth quarter worth about $52,414,000. Freestone Grove Partners LP purchased a new position in shares of Globe Life in the fourth quarter worth about $52,178,000. Finally, Marshall Wace LLP increased its holdings in Globe Life by 1,702.5% during the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after purchasing an additional 457,802 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.
Globe Life Price Performance
GL stock opened at $122.07 on Tuesday. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The business's 50 day moving average price is $123.19 and its two-hundred day moving average price is $117.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 10.22 and a beta of 0.56.
Globe Life (NYSE:GL - Get Free Report) last posted its 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 return on equity of 22.32% and a net margin of 18.53%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the company posted $2.78 EPS. The firm's revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.
Globe Life Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.88%. Globe Life's dividend payout ratio is currently 8.79%.
Analyst Ratings Changes
A number of research analysts recently issued reports on GL shares. Piper Sandler reduced 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. Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. StockNews.com upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.73.
Get Our Latest Research Report on GL
Globe Life Profile
(
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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