Retirement Systems of Alabama Purchases Shares of 18,875 Globe Life Inc. (NYSE:GL)

Retirement Systems of Alabama bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 18,875 shares of the company's stock, valued at approximately $2,297,000.

Other large investors have also made changes to their positions in the company. 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 acquiring an additional 162 shares during the period. BKM Wealth Management LLC acquired a new position in Globe Life in the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC boosted its stake in 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 acquiring an additional 92 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Globe Life during the 4th quarter valued at $60,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Globe Life in the 4th quarter valued at $63,000. Institutional investors own 81.61% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

GL has been the subject of a number of recent analyst reports. Piper Sandler dropped their price objective on Globe Life from $130.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, April 24th. Keefe, Bruyette & Woods raised shares of Globe Life from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $130.00 to $110.00 in a research note on Wednesday, April 24th. StockNews.com cut shares of Globe Life from a "buy" rating to a "hold" rating in a research report on Saturday, April 20th. Evercore ISI dropped their price objective on Globe Life from $125.00 to $75.00 and set an "in-line" rating on the stock in a research note on Friday, April 12th. Finally, Truist Financial lowered their price target on Globe Life from $125.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, April 24th. Five investment 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $114.33.

Globe Life Stock Down 2.9 %

Globe Life stock traded down $2.61 during midday trading on Thursday, reaching $86.88. The stock had a trading volume of 3,092,280 shares, compared to its average volume of 2,227,842. Globe Life Inc. has a 1-year low of $38.95 and a 1-year 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. The firm's fifty day simple moving average is $99.26 and its 200-day simple moving average is $113.46. The stock has a market capitalization of $8.17 billion, a P/E ratio of 8.55 and a beta of 0.78.

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

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, July 3rd. Globe Life's dividend payout ratio is currently 9.17%.

About Globe Life

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.