Los Angeles Capital Management LLC Boosts Holdings in Globe Life Inc. (NYSE:GL)

Los Angeles Capital Management LLC raised its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 352,843 shares of the company's stock after purchasing an additional 42,059 shares during the period. Los Angeles Capital Management LLC owned 0.37% of Globe Life worth $42,948,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GL. Private Trust Co. NA lifted its stake in shares of Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company's stock valued at $27,000 after buying an additional 162 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Globe Life during the fourth quarter worth $28,000. Lindbrook Capital LLC grew its position in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock valued at $29,000 after purchasing an additional 92 shares during the period. Headlands Technologies LLC acquired a new position in Globe Life in the fourth quarter valued at $60,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Globe Life during the fourth quarter worth about $63,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Globe Life from $130.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upgraded Globe Life from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. StockNews.com cut Globe Life from a "buy" rating to a "hold" rating in a report on Saturday, April 20th. JPMorgan Chase & Co. increased their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, February 8th. Finally, Evercore ISI reduced their price target on shares of Globe Life from $125.00 to $75.00 and set an "in-line" rating on the stock in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $114.33.

Insiders Place Their Bets

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

Globe Life Stock Down 2.2 %

Shares of GL stock traded down $1.73 on Friday, hitting $77.55. The stock had a trading volume of 1,779,529 shares, compared to its average volume of 2,195,047. The stock's 50 day moving average is $102.81 and its 200-day moving average is $114.32. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 7.41 and a beta of 0.78. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. Globe Life's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 earnings per share. As a group, research analysts expect that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.24%. This is an increase from Globe Life's previous quarterly dividend of $0.23. The ex-dividend date was Thursday, April 4th. Globe Life's dividend payout ratio is 9.17%.

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.

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