Vanguard Group Inc. Has $1.37 Billion Holdings in Globe Life Inc. (NYSE:GL)

Vanguard Group Inc. decreased its position in Globe Life Inc. (NYSE:GL - Free Report) by 0.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 10,388,209 shares of the company's stock after selling 11,487 shares during the period. Vanguard Group Inc. owned about 12.48% of Globe Life worth $1,368,335,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of Globe Life by 0.5% during the 1st quarter. Amalgamated Bank now owns 16,348 shares of the company's stock worth $2,153,000 after purchasing an additional 85 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Globe Life by 4.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after purchasing an additional 88 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Globe Life by 0.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company's stock worth $2,605,000 after purchasing an additional 89 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Globe Life by 1.1% during the 1st quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company's stock worth $1,084,000 after purchasing an additional 93 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Globe Life by 4.2% during the 1st quarter. HighPoint Advisor Group LLC now owns 2,366 shares of the company's stock worth $293,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Globe Life Trading Down 0.3%

Globe Life stock traded down $0.48 during trading hours on Thursday, hitting $138.52. The stock had a trading volume of 461,489 shares, compared to its average volume of 658,539. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 11.07 and a beta of 0.56. Globe Life Inc. has a one year low of $95.09 and a one year high of $144.00. The business's 50 day simple moving average is $126.33 and its 200-day simple moving average is $124.09.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $2.97 earnings per share. On average, equities analysts predict 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, October 31st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life's dividend payout ratio (DPR) is 8.63%.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the transaction, the chief executive officer directly owned 49,842 shares in the company, valued at $6,758,076.78. This trade represents a 40.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer directly owned 30,665 shares of the company's stock, valued at $4,322,845.05. This represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,741 shares of company stock valued at $12,471,180 over the last three months. 1.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GL. BMO Capital Markets reissued a "market perform" rating and set a $149.00 target price (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Morgan Stanley raised Globe Life from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $135.00 to $166.00 in a report on Tuesday, August 5th. Wells Fargo & Company increased their target price on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Truist Financial began coverage on Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price on the stock. Finally, Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Two research 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $152.00.

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.