Worldquant Millennium Advisors LLC Reduces Stake in Globe Life Inc. (NYSE:GL)

Worldquant Millennium Advisors LLC decreased its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 36.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,392 shares of the company's stock after selling 27,197 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.06% of Globe Life worth $5,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GL. Woodline Partners LP bought a new position in shares of Globe Life during the fourth quarter valued at $5,636,000. Virtus Fund Advisers LLC bought a new position in shares of Globe Life during the fourth quarter valued at $116,000. Virtus Investment Advisers Inc. bought a new position in shares of Globe Life during the fourth quarter valued at $1,358,000. WBI Investments LLC bought a new position in shares of Globe Life during the fourth quarter valued at $2,100,000. Finally, Two Sigma Advisers LP increased its holdings in shares of Globe Life by 69.7% during the fourth quarter. Two Sigma Advisers LP now owns 393,800 shares of the company's stock valued at $43,917,000 after acquiring an additional 161,700 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Stock Performance

Shares of Globe Life stock traded up $1.72 on Tuesday, reaching $121.13. 118,179 shares of the stock were exchanged, compared to its average volume of 660,109. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a twelve month low of $76.55 and a twelve month high of $133.76. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 10.14 and a beta of 0.56. The business has a 50 day moving average price of $122.62 and a two-hundred day moving average price of $118.31.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The company's revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.78 earnings per share. Analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life's payout ratio is 8.79%.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the business's 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 owns 31,298 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. 1.51% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Wells Fargo & Company reduced their price objective on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Piper Sandler reduced their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.73.

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.