Nuance Investments LLC Takes $30.56 Million Position in Globe Life Inc. (NYSE:GL)

Nuance Investments LLC bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 251,069 shares of the company's stock, valued at approximately $30,560,000. Nuance Investments LLC owned 0.27% of Globe Life as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Globe Life in the 3rd quarter valued at $464,000. Brown Advisory Inc. boosted its position in 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 buying an additional 121 shares in the last quarter. Mackenzie Financial Corp grew its stake in Globe Life by 31.5% during the third quarter. Mackenzie Financial Corp now owns 23,899 shares of the company's stock worth $2,589,000 after buying an additional 5,728 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Globe Life by 0.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,590 shares of the company's stock worth $2,891,000 after buying an additional 205 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Globe Life in the third quarter valued at approximately $239,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Down 0.4 %

Shares of NYSE GL traded down $0.38 during midday trading on Friday, reaching $86.50. The company's stock had a trading volume of 2,007,639 shares, compared to its average volume of 5,489,766. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The stock has a 50 day simple moving average of $97.67 and a 200-day simple moving average of $113.12. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 8.26 and a beta of 0.78. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $2.53 EPS. Globe Life's revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.11%. Globe Life's payout ratio is 9.17%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GL shares. JPMorgan Chase & Co. raised their price objective on shares of Globe Life from $133.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. Keefe, Bruyette & Woods upgraded shares of 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 research report on Wednesday, April 24th. Wells Fargo & Company reduced their price objective on Globe Life from $132.00 to $108.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Truist Financial lowered their target price on Globe Life from $125.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, April 24th. Finally, StockNews.com lowered Globe Life from a "buy" rating to a "hold" rating in a research note on Saturday, April 20th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $114.33.

Insider Activity at Globe Life

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the business'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 transaction of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares of the company's stock, valued at approximately $790,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David A. Rodriguez purchased 1,500 shares of the company'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 acquisition, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the company's stock in a transaction 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 directly owns 10,220 shares in the company, valued at $790,006. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

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.

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