Mubadala Investment Co PJSC Purchases Shares of 37,119 Globe Life Inc. (NYSE:GL)

Mubadala Investment Co PJSC purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,119 shares of the company's stock, valued at approximately $4,140,000. Globe Life accounts for approximately 0.0% of Mubadala Investment Co PJSC's investment portfolio, making the stock its 15th largest position.

Several other large investors have also recently added to or reduced their stakes in GL. Private Trust Co. NA raised its holdings in Globe Life by 12.5% in the fourth quarter. Private Trust Co. NA now owns 754 shares of the company's stock valued at $84,000 after acquiring an additional 84 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Globe Life by 4.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock worth $276,000 after purchasing an additional 87 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock valued at $256,000 after buying an additional 88 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its position in Globe Life by 2.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock worth $472,000 after buying an additional 100 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Price Performance

Shares of NYSE GL traded up $1.30 during trading on Friday, hitting $121.87. The company had a trading volume of 706,010 shares, compared to its average volume of 850,752. The company has a market cap of $10.06 billion, a P/E ratio of 10.20 and a beta of 0.56. Globe Life Inc. has a 52 week low of $76.55 and a 52 week high of $133.76. The business's 50-day moving average is $123.20 and its 200 day moving average is $117.65. 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 (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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned $2.78 earnings per share. Globe Life's revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

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 issued 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 of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio is currently 8.79%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. BMO Capital Markets began coverage on Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target for the company. Keefe, Bruyette & Woods increased their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Piper Sandler dropped their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, StockNews.com upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday. Four 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.00.

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.