UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Globe Life Inc. (NYSE:GL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Globe Life Inc. (NYSE:GL - Free Report) by 74.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 392,844 shares of the company's stock after selling 1,126,831 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.47% of Globe Life worth $43,810,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GL. Wellington Management Group LLP boosted its position in shares of Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after acquiring an additional 326,307 shares during the period. Invesco Ltd. increased its stake in shares of Globe Life by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company's stock valued at $438,568,000 after buying an additional 223,282 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Globe Life by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company's stock valued at $177,615,000 after buying an additional 118,054 shares in the last quarter. Arrowstreet Capital Limited Partnership increased 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 purchasing an additional 36,051 shares during the period. Finally, Nuance Investments LLC increased its position in Globe Life by 8.3% in the fourth quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock worth $137,623,000 after purchasing an additional 95,091 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analyst Weigh In

GL has been the subject of several analyst reports. Piper Sandler decreased their target price 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. upped their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company decreased their target price on Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Morgan Stanley increased 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. Finally, Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.73.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the transaction, the chief executive officer now directly owns 31,298 shares in the company, valued at $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Stock Up 0.2%

Globe Life stock traded up $0.24 during mid-day trading on Friday, reaching $121.21. The stock had a trading volume of 123,906 shares, compared to its average volume of 816,582. The firm has a market capitalization of $10.01 billion, a PE ratio of 10.14 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The stock's 50-day simple moving average is $122.18 and its 200-day simple moving average is $118.43.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (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 company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the firm earned $2.78 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business 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 is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. Globe Life's payout ratio is 8.79%.

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.