abrdn plc Increases Stock Position in Globe Life Inc. (NYSE:GL)

abrdn plc lifted its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 97.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,160 shares of the company's stock after buying an additional 22,755 shares during the period. abrdn plc's holdings in Globe Life were worth $5,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GL. Sequoia Financial Advisors LLC increased its stake in shares of Globe Life by 4.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company's stock valued at $230,000 after purchasing an additional 99 shares during the period. Stonegate Investment Group LLC increased its stake in shares of Globe Life by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company's stock valued at $4,153,000 after purchasing an additional 116 shares during the period. Brown Advisory Inc. increased its stake in shares of Globe Life by 3.0% in the third quarter. Brown Advisory Inc. now owns 4,127 shares of the company's stock valued at $449,000 after purchasing an additional 121 shares during the period. Tectonic Advisors LLC increased its stake in shares of Globe Life by 5.3% in the fourth quarter. Tectonic Advisors LLC now owns 2,960 shares of the company's stock valued at $360,000 after purchasing an additional 150 shares during the period. Finally, CWM LLC increased its stake in shares of Globe Life by 11.4% in the third quarter. CWM LLC now owns 1,527 shares of the company's stock valued at $166,000 after purchasing an additional 156 shares during the period. Institutional investors own 81.61% of the company's stock.

Insider Buying and Selling

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the firm's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company's stock, valued at approximately $790,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Rodriguez bought 1,500 shares of the business's stock in a transaction on Wednesday, April 24th. The stock was bought at an average price of $79.72 per share, with a total value of $119,580.00. Following the transaction, the director now owns 4,192 shares in the company, valued at $334,186.24. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company's stock.

Globe Life Price Performance

NYSE:GL traded up $0.21 during trading hours on Friday, reaching $75.75. 5,993,318 shares of the company's stock were exchanged, compared to its average volume of 6,260,843. The company has a market capitalization of $7.12 billion, a P/E ratio of 7.23 and a beta of 0.69. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The business's 50-day simple moving average is $106.65 and its two-hundred day simple moving average is $115.32.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the business posted $2.53 earnings per share. The company's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Globe Life Inc. will post 11.73 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.24 dividend. This is a positive change from Globe Life's previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. Globe Life's dividend payout ratio (DPR) is currently 9.17%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial decreased their price objective on shares of Globe Life from $125.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday. Keefe, Bruyette & Woods upgraded shares of Globe Life from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $130.00 to $110.00 in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $133.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, February 8th. Piper Sandler decreased their price objective on shares of Globe Life from $130.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Evercore ISI decreased their price objective on shares of Globe Life from $125.00 to $75.00 and set an "in-line" rating for the company in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $114.33.

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.