Two Sigma Investments LP Increases Holdings in Globe Life Inc. (NYSE:GL)

Two Sigma Investments LP raised its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 81.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,706 shares of the company's stock after buying an additional 118,321 shares during the quarter. Two Sigma Investments LP owned about 0.31% of Globe Life worth $29,297,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Globe Life during the fourth quarter valued at $61,238,000. Lighthouse Investment Partners LLC raised its stake in Globe Life by 914.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock valued at $14,304,000 after buying an additional 115,628 shares during the last quarter. Merit Financial Group LLC purchased a new position in Globe Life during the fourth quarter valued at $487,000. Prudential Financial Inc. raised its stake in Globe Life by 50.0% during the fourth quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock valued at $9,069,000 after buying an additional 27,590 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Globe Life by 61.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock valued at $2,751,000 after buying an additional 9,395 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on GL. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Piper Sandler reduced their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company reduced their target price on 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 target price on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley lifted their target price on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Four investment 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.73.

Globe Life Stock Performance

Shares of GL traded down $0.05 during trading hours on Friday, hitting $119.51. The stock had a trading volume of 385,967 shares, compared to its average volume of 827,437. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12 month low of $76.55 and a 12 month high of $133.76. The firm has a market capitalization of $9.86 billion, a PE ratio of 10.00 and a beta of 0.56. The stock has a fifty day moving average price of $122.78 and a 200 day moving average price of $118.17.

Globe Life (NYSE:GL - Get Free Report) last issued 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 return on equity of 22.32% and a net margin of 18.53%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm earned $2.78 EPS. The business's revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's payout ratio is currently 8.79%.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the transaction, the chief executive officer now directly owns 31,298 shares in the company, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Globe Life 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.